Brazil's Shipbuilding, Port Industries See Record Investment

2025-01-21 02:12:17

(MENAFN- Daily News Egypt) Brazil's shipbuilding and port sectors received their highest level of investment in 12 years in 2024, marking a significant period for the country's maritime economy, according to Toda Palavra, a partner of TV BRICS .

Funding was secured for more than 430 projects, encompassing construction, repair, docking, equipment modernisation, shipyard expansions, and new port infrastructure. The approved funding for the last two years doubled the total amount prioritised during the preceding four years.

The number of projects rose by 70% between 2023 and 2024, increasing from 768 projects between 2019 and 2022 to 1,300 in just two years.

2024 also saw record expansion investments in shipbuilding. Contracts worth $870m were signed for 548 new projects, the highest volume since 2012. Most projects focused on inland navigation (415), followed by maritime support (94), port support (37), and cabotage (2).

Combined with 2023 figures, the government allocated $1.04 billion to new ventures, a 326% increase compared to the 2019-2022 period.

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