Brazilian Companhia Vale do Rio Doce eyeing USD 4.05 billion CAPEX plan for ports
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It is reported that Companhia Vale do Rio Doce is planning to invest USD 4.05 billion in upgrading and expanding its ports. The investments will be made at a rate of USD 1 billion a year through 2012, with USD 3.6 billion allocated to Vale's Ponta da Madeira terminal near Sao Luiz in the Brazilian Northeast.??It may be noted that Vale plans to double throughput at Ponta da Madeira to 260 million tonnes a year by 2012.
The port is the main export outlet for Vale's high quality iron ore mines at Carajas in the lower Amazon basin.??Vale will also invest USD 205 million building a new port at Anchieta. This new port will serve China's Baosteel mill, handling steel plate and coking coal traffic.??Another USD 177 million will raise throughput at Tubarao to 120 million tonnes of iron ore a year from its current 100 million tonnes. The port will also ship soybeans, coal, fertilizers and oil products.??Vale's investment will also include training of 2,000 new staff to operate the upgraded and expanded terminals.