Prumo Gets BNDES Approval

Porto do Açu Operações S.A., Prumo’s subsidiary, has received an approval letter from Banco Nacional de Desenvolvimento Econômico e Social (BNDES) to refinance its outstanding short-term debt obligations.

The agreement establishes the terms and conditions for the R$2.8 billion long-term facility, of which R$2.3 billion will be funded upon closing and used to fully amortize the existing bridge-loans granted by the Bank.

Bradesco and Santander will act as on-lenders for this facility.

The remaining facility amount of R$ 500 million will be used to fund port construction and will be provided by a third on-lending bank yet to be identified. The total tenor of the approved facility is 18 years with four years of grace period and 14 years of amortization. The transaction will be concluded upon execution of contracts.

Since the start of operations at the Açu Port in 2014, Prumo has signed a series of commercial contracts and has expanded its operations with the development of new terminals.

 

 

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2019 Western Dredging Association Gulf Coast Chapter Annual Meeting

The meeting will provide a forum for the exchange of information of interest to the dredging industry and its associates.

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3rd International Congress Hydraulic Engineering Structures and Dredging

Russia’s leading maritime industry Media Group PortNews (www.portnews.ru) holds a traditional annual Congress “Hydraulic Engineering Structures and Dredging” in Moscow. 

The two-day Congress includes the 7th International Forum of Dredging Companies and the 3rd Technical Conference “Modern Solutions for Hydraulic Engineering”.

Infrastructure development is among the real sources of Russia’s economy growth. Construction of port facilities and new hydraulic engineering structures on the country’s inland waterways constitute an essential part of all infrastructure projects. It is important to take into account the best international practices to implement these projects effectively.

The program of the Congress will be devoted to the latest technologies for dredging and hydraulic engineering works. Speakers and delegates will refer to real projects to discuss specifics features of dredging works, as well as dedicated fleet and equipment involved.

To learn more about event, please, contact the organizing committee: snitko@portnews.ru

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