Brazilian port terminal Corredor Logística e Infraestrutura (CLI) is set to acquire 80% of Brazilian bulk sugar and grain terminal Elevações Portuárias (EPSA) in Santos, following an investment by Macquarie Infrastructure Partners V (MIP V).

The acquisition would result in the largest independent agriculture port terminal in Brazil, MIP V, an Americas-focused infrastructure fund managed by Australia’s Macquarie Asset Management, said on 18 July.

The remaining 20% share in EPSA would be retained by Brazilian railroad operator Rumo.

On completion of the deal, MIP V would hold a 50% co-control stake in CLI, with CLI’s current owner holding the remainder, the company said.

“This new phase for CLI… will [see it] grow from its current 4M tonnes of export shipping capacity to more than 20M tonnes,” said CLI CEO Hélcio Tokeshi said.

CLI is one of four companies operating the Maranhão Grain Terminal (TEGRAM), in the Port of Itaqui, one of the largest grain and oilseed terminals in Brazil.

The Port of Itaqui, together with the Ponta da Madeira and Porto da Alumar Terminal, make up the Maranhão Port Complex, the largest in Brazil in cargo volume, according to the Roundtable on Responsible Soy (RTRS).

Itaqui port was the fifth largest port in Brazil in terms of cargo volume capacity, serving grain and soyabean markets, with the port moving some 10M tonnes of soyabeans in 2020, the RTRS said.

Located in the Bay of San Marcos, San Luis, Maranhão, the Port of Itaqui’s geographical location provided competitive advantages - compared to ports in the south and southeast of Brazil - as access time to major foreign markets such as Asia, Europe and North America was reduced by up to five days, the RTRS added.