On October 24th Allard Castelein, the CEO of the Port of Rotterdam Authority, and Camilo Santana, Governor of the Brazilian state of Ceará, signed an investment agreement regarding the Port of Rotterdam Authority’s participation in the development of the port of Pecém. The agreement sets out how the Port of Rotterdam Authority will be investing some EUR 75 million in Pecém’s port-industrial complex, constituting a 30% share in this enterprise. In addition, the Port of Rotterdam Authority will gain a joint say in strategic and investment decisions as well as representation in the Brazilian port’s Executive Board, Supervisory Board and management. The partners expect to conclude the definite participation agreement before the end of 2018. Port of Rotterdam Authority CEO Allard Castelein: "Our participation in the port of Pecém is a great opportunity. This port has clear growth potential and its strategic situation gives it a strong position for developing into Northeast Brazil’s foremost logistics and industrial hub. This in turn will create new opportunities for international trade flows and investments from Europe."