Terminal XXXIX (IDBI-12974-01)

Countries
  • Brazil
Where the impacts of the investment may be experienced.
Specific Location
City of Santos
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • IDB Invest (IDBI)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Jan 19, 2021
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Terminal XXXIX de Santos S.A.
The holder of the loan, grant, or other investment.
Sectors
  • Infrastructure
  • Transport
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 173.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 173.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ IDBI website

Updated in EWS May 28, 2021

Disclosed by Bank Dec 20, 2020


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Project Description

The project consists in a 10-years senior loan, with up to 3-years grace period, for the financing of the port terminal facilities expansion of Terminal XXXIX de Santos S.A. (“T39”) located at the Port of Santos in the state of São Paulo, Brazil. Founded in 2001, T39 is owned in equal parts by Caramuru Alimentos S.A. (“Caramuru”) and Rumo S.A. (“Rumo”) (Rumo and Caramuru together, the “Sponsors”), representing a highly strategic asset for both Sponsors, who will also be participating as co-obligors of the transaction. Caramuru exports 90% of its products through T39, while Rumo transported most of its grain through T39.

The terminal expansion plan has the main objective of easing the flow of growing exports from Caramuru and other third parties, by increasing its warehousing capacity from 135,000 tons to 247,000 tons. After completing the project, T39 will be single largest grains terminal in Santos, with strong competitive advantages in terms of land infrastructure, berthing conditions, and logistics business integration. T39 will increase its volume handling from 2.5 million tons per year, to around 7.5 million tons per year, an important contribution to accommodate the increasing demand for export cargo handling in the Santos port. Rumo is Brazil’s largest logistics operator in terms of transported volume. It provides rail transport, port handling, and warehousing services. Rumo operates the largest railroad network in Brazil, consisting of five concessions with approximately 13,500 kilometers of lines, 1,200 locomotives and 33,000 wagons, as well as distribution centers and storage facilities.

Caramuru is a leading Brazilian grain processing company which engages in the processing, refining, and marketing of soybean related products, biodiesel, corn, and sunflower products in Brazil. It is among the top Brazilian exporters of soy.

Investment Description
  • IDB Invest (IDBI)

Loan & Guarantee

Private Actors
Contact Information

For inquiries about the Project please contact to Terminal XXXIX:

Name:                                      Ademilson Vitorino Alves

Title:                                        Gerente Administrativo/ Financeiro

Phone numbers:                     (13) 3278-5001 -  (13) 99108-1777

E-mail:                                     ademilson@terminal39.com.br

For questions and comments to IDB Invest please contact:

Name:                                      BID Invest Communication Group

E-mail:                                      requestinformation@idbinvest.org

Additionally, affected communities can access the BID Invest’s Independent Consultation and Investigation Mechanism (ICIM) as follows:

Phone number:                        +1 (202) 623-3952

Fax number:                             +1 (202) 312-4057

Address:                                   1300 New York Ave. NW Washington, DC. USA. 20577

E-mail:                                        mecanismo@iadb.org ou MICI@iadb.org