Rio de Janeiro - RJ Will Have Free Trade Area at Açu Port; Bidding Starts Today

Rio de Janeiro – RJ Will Have Free Trade Area at Açu Port; Bidding Starts Today

Written by Valdemar Medeiros

Published on 30/10/2020 at 10:43

Porto do Açu

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Rio de Janeiro Government – RJ Launches Bidding for Export Processing Zone and Free Trade at Porto do Açu

The government of the State of Rio de Janeiro – RJ is launching a bidding process this Thursday to select the company that will implement and manage the Export Processing Zone and Free Trade (ZPE) at Porto do Açu, in São João da Barra, Northern Fluminense. The project for natural gas thermal power plants, Açu Natural Gas (GNA), a joint venture formed by Prumo Logística, BP, and Siemens, is being developed at the site, with a potential to generate 1.3 gigawatt.

RJ and Free Trade

The winner of the Porto do Açu Free Trade process in RJ will have to purchase the 1.8-square-kilometer land from the Industrial Development Company of the State of Rio de Janeiro – RJ (Codin), linked to the Secretariat of Economic Development, for approximately R$ 10 million and invest R$ 40 million in infrastructure, in addition to depositing R$ 26 million to the state as a grant.

The investment at Porto do Açu will be made over four years, with R$ 10 million each year. The bidding was prepared in partnership between Codin and the Secretariats of Economic Development and the Civil House.

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Investment Decisions for Free Trade at Porto do Açu – RJ

“The net operating revenue of ZPE Ceará is R$ 26 million on average, annually. This is our benchmark for the minimum offer in the public selection for Free Trade.

Since our bidding lasts for 20 years, we established a fixed grant value of 5% on the total of R$ 520 million. We also defined a variable value at Porto do Açu, which will serve to update the counterpart, of 5% of the net operating revenue. All these criteria were established based on economic studies,” explains Galvão.

The Free Trade decision is part of the RJ Government’s policies to diversify and decentralize economic activity in the state, strengthening industrial hubs, reducing inequalities among regions, and allowing for an increase in the tax revenue of the municipalities in the interior.

To participate in the bidding process, companies must demonstrate financial capacity to cover the project costs, in addition to depositing contractual guarantees.

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