VLI – Valor da Logística Integrada – expects to reduce the unloading time in the Port of Santos from thirty to six hours until 2017. The investment plan of the subsidiary of Vale provides for the contribution of $ 3.99 billion over five years in the incorporation of 7,500 new cars, expansion of railroad tracks and port modernization to expand by 12 million tons the country’s logistical capacity. The works in the Port of Santos should start in January 2014, with completion scheduled for the end of 2016 so that operations reach full capacity in 2017.
Integration is an essential attribute to avoid huge queues of trains, trucks and ships. The idea is to remove bottlenecks. Today, a car arrives at the Port of Santos and takes thirty hours to be unloaded. At the Port of Tubarão, in the city of Vitória, the unloading operation is done in six hours. Our value proposition is to increase the unloading capacity of Santos with the unloading of three trains simultaneously, said Marcelo Spinelli, CEO of VLI.
On September 18, Vale announced the transfer of 20% of the capital of VLI to Japan’s Mitsui, involving $670.1 million, and 15.9% to the Investment Fund of the Government Severence Indemnity Fund – FGTS (FI-FGTS), worth $532.9 million, whose property is managed by Caixa Econômica Federal (CEF).
Out of the total transaction, $888.1 million will be allocated to the capital contribution in VLI and to finance the investment plan of the company and, $314.84 million will be paid to Vale in exchange for shares of VLI held by the company. The mining company also negotiated the sale of 26% stake of the capital of VLI to the consortium led by Brookfield Brasil. With this, Vale may have a 38.1% share of VLI.
VLI was created in December 2010 to focus on business of the shippers already using the logistic system of Ferrovia Centro-Atlântica (FCA) and Ferrovia Norte-Sul (FNS) for the transport and handling of general freight. In the first half of this year, it produced 14.4 billion tons per useful kilometer (TKU). The performance was 13% above the same period last year.
The $3.99 billion of the Investment Plan of VLI will be distributed in expansion and improvement of infrastructure. In addition to the 7,500 new cars, the company will buy 210 locomotives. Five new intermodal terminals will be built. The expansion of the Port Integrator Terminal Luiz Antonio Mesquita (Tiplam) includes the construction of three new berths for handling grains, bran, sugar, and fertilizers, the only freight currently operated, adding 12.5 million tons per year of capacity to the port system of Santos.
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