Suzano acquires shareholding in Imetame Logística Porto project in Brazil’s Espírito Santo state
Suzano announces the acquisition of a 10 percent stake in Imetame Logística Porto through an agreement with the Imetame Group. The project, currently under construction in Brazil’s Espírito Santo state, has been designed to include five specialized port terminals. The deal includes the transfer of strategically-located land owned by Suzano that will be used to support development of the port project, without affecting the operational or economic performance at Suzano’s nearby Aracruz unit.
Through this agreement, Suzano becomes an important partner in development of the logistics complex, which is expected to meaningfully contribute to the economic development of Espírito Santo through the installation of five port terminals for containers, general cargo, dry bulk, liquid bulk, and ship-to-ship operations.
The port hub, with a 17-meter maximum depth, has the capacity to accommodate some of the world’s largest and most advanced vessels. It is expected to begin partial-scale general cargo operations in early 2027, and full-scale as from 2028. The container terminal, a joint venture with Hanseatic Global Terminals (HGT), Hapag-Lloyd’s terminals division and part of the world’s fifth-largest container shipping line, is expected to be operational by mid-2028. The other four terminals will be developed in subsequent phases, in line with the port’s construction schedule.
The development of the port hub will now incorporate an area that is currently part of Suzano’s landholding in the region, which can be put to better use through its integration into the Imetame Logística Porto hub. Closing of the transaction is subject to customary regulatory and closing requirements, including approval from CADE – Brazil’s antitrust regulator.
Beto Abreu, CEO of Suzano, said:
“By joining such a significant project for Espírito Santo, Suzano reinforces its commitment to supporting Espírito Santo’s development. The Imetame Group, with whom we have maintained a strong long-term relationship, becomes a new logistics option for the entire region.”
Etore Selvatici Cavallieri, CEO of the Imetame Group, said:
“Suzano becoming a shareholder in Imetame Logística Porto further strengthens a trusted relationship built over many years. Suzano is already an important partner of Imetame Metalmecânica, and this new deal deepens our connection through a strategic project for Brazil. We are very pleased to welcome a partner that knows our history, has confidence in our ability to deliver, and shares our vision for developing a modern, efficient, and strategically important port for Espírito Santo and Brazil, contributing to increased logistics capacity and creating new opportunities for the region.”