05
Sep
11:54
Payment delay halts Brazil's Pecém port expansion
The Brazilian Port of Pecém has once again halted the second phase of its expansion works. This is due to delays in payment by the Ceará state government to a construction consortium, Kallanish hears from one of the companies affected by the stoppage.
“The delays in payment began in February and amounted to near BRL 40 million ($12.7m). The Brazilian National bank of economic and social development (BNDES) has invested 90% of t…
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