BNDES releases loan for port recovery in Rio Grande do Sul
Financing worth R$373.46 million in two stages was approved by the National Bank for Economic and Social Development (BNDES) to the CCGL Group to invest in the recovery and resumption of activities at the Luiz Fogliatto Maritime Terminal (Termasa), in Porto of Rio Grande (RS), damaged by the rains that devastated the state in May this year.
The structure, used to receive, store and dispatch products and grains destined for domestic and foreign markets, was seriously affected by the flood and was unable to operate.
With the force of the current, a ship docked at the terminal collided with the pier, affecting the structure and interrupting services. Part of a total investment of around R$400 million, the support of R$280 million from the BNDES Emergency program, in the Investment and Reconstruction Modality, includes restoring the operational condition of the pier, which will require the reconstruction of the ship berthing structure , including platforms and mooring mechanisms.
In the other operation, worth R$93.46 million, the emergency credit will be used for the company’s liquidity, through the offer of working capital, for mitigation and adaptation actions to climate change and resumption of economic activities. Termasa will adopt measures to reduce the risk of new accidents and make operations safer and more reliable.
“Support for the recovery of port infrastructure favors the logistics and competitiveness of Rio Grande do Sul”, highlighted the president of BNDES, Aloizio Mercadante. “Since the beginning of the climate catastrophe, BNDES has already operated R$24 billion in credit directed to the state of Rio Grande do Sul, with project approval speeds six times faster than the Bank’s average,” he added.
READ MORE: BNDES approves financing of R$125 million for highways affected by rains in RS
Investment in the terminal includes the execution of civil works and the acquisition of national machinery and equipment. The terminal is located on the west bank of the access channel to the Port of Rio Grande, which allows the export of products from throughout southern Brazil, with a strategic location close to Uruguay, Argentina and Paraguay.
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