As Brazilian steelmaker Companhia Siderurgica Nacional (CSN) seeks to sell its non-core assets as a way to raise money to diminish its debts, investors look at the company’s Sepetiba Tecon S.A. terminal as a potential asset to be acquired.
Media reports this week said the port will be CSN’s first asset to be sold, as there some investors interested in acquiring it. Reports said CSN expects to sell the port for about BRL 1 billion until the end of the year.
CSN has recently extended in advance the lease it has in the Tecar port terminal in the city of Itaguai, in the state of Rio de Janeiro, for 25 years, from 2022 to 2047. Under the terms of the agreement, CSN is expected to invest BRL 1.6 billion ($390,702) in the port terminal by 2029. As the investment is completed, CSN is expected to increase Tecar’s capacity to 60 million mt/year, from 30 million mt/year.
Local media said Boston-based private equity firm Advent is currently analyzing the possibility of buying the Tecon, which is a container terminal in the bay of Sepetiba at the Itaguaí port, in the state of Rio de Janeiro.