$42 Million Investment in Fospar Port Terminal Upgrades Further Positions Mosaic to Win & Grow in Brazil
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$42 Million Investment in Fospar Port Terminal Upgrades Further Positions Mosaic to Win & Grow in Brazil

 
November 17, 2016   |   ShareThis

Brazilian Minister of Transportation, Maurício Quintela, and Mosaic representatives held a signing ceremony November 16, 2016, in the capital city of Brasilia to celebrate a formal Mosaic contract to invest $42 million in upgrading the company’s Fospar S.A.’s fertilizer terminal in the Port of Paranaguá.

The investment further advances our growth strategy in Brazil and strengthens Mosaic’s position to take full advantage of the country’s agricultural expansion.

Expected to be completed by 2019, the Fospar terminal upgrades will boost fertilizer-unloading capacity 25 percent, from 2.4 million metric tons per year currently to 3 million metric tons. The additional 659,000 metric tons per year will help Mosaic optimize its fertilizer deliveries, improve unloading operations and logistics, and reinforce our quality commitment to the region’s farmers.

Upgrades will include a new conveyor system extending from the pier to the terminal, truck-loading hoppers, and a warehouse designed to store 45,000 metric tons, bringing Fospar’s total storage capacity to 105,000 metric tons.

With the investment, Fospar’s port lease will be renewed for another 25 years beyond its current lease ending date in 2023, enabling the company to operate the terminal until 2048.

Paranaguá is Brazil’s main grain exporting and fertilizer-unloading port, accounting for almost half of the 20 million metric tons of product entering the country every year.