Rio - The president of the Brazilian Development Bank (Banco Nacional de Desenvolvimento Econômico e Social) (BNDES), Carlos Lessa, says that the port of Sepetiba, on the southern coast of the state of Rio de Janeiro, could become the principal gateway for goods in the South Atlantic. Lessa revealed that two "big groups" were interested in building a steel mill near the port; an enterprise that could involve an investment of more than US$1 billion.

"The tendency is for Sepetiba to become the biggest port in the region. Nothing less than 70% of Brazil's GDP is in the neighborhood," explained Lessa, adding that from the BNDES's point of view growth of more than 4% this year, as some experts are now forecasting, will be a good thing.

Agência Brasil
Reporter: Nielmar Oliveira
Translator: Allen Bennett
09/09/2004