The Brazilian press recently reported that the Abu Dhabi Fund
for Development (ADFD), a sovereign fund, will fi nance the
construction of a multicargo private-use port terminal in the City
of Sao Mateus in the state of Espirito Santo.
The project budget would be BRL3 billion (US$789.59 million) and
the ADFD would fi nance a high percentage of such a budget, say,
85%.
The Sao Mateus port is held by Petrocity Portos, which was
incorporated back in 2013 by a group of foreign and Brazilian
investors. A main objective of the project is to allow companies
and plants located within a 300 km radius from Sao Mateus to use
this new port, focused on the oil and gas sector, rather than the
existing, more distant port terminals.
