Insight - Ecological risks may spell trouble for Batista's Brazil port


  • World
  • Thursday, 11 Jul 2013

SأO JOأO DA BARRA, Brazil (Reuters) - As Brazilian billionaire Eike Batista breaks up his crumbling EBX Group industrial empire to pay off debt, one of the few assets he's expected to keep is port-development company LLX Logيstica SA.

But raising the more than $600 million needed to finish LLX's only project, the massive $2 billion Port of Açu north of Rio de Janeiro, may be a struggle. One-and-a-half times the size of Manhattan, Açu is designed to ease delays caused by Brazil's overcrowded ports and serve a booming offshore oil industry. It's also being dogged by scientists' claims that its construction is polluting the surrounding lowlands ecosystem with salt.

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