DP World to invest $35m at Brazil’s Port of Santos7 March 2023
DP World is planning to invest $35m in 2023 to expand and modernise its facilities located on the left bank of Brazil’s Port of Santos.
With the investment, the company plans to increase annual movement capacity from 1.2 million TEUs (twenty-foot equivalent container units) to 1.4 million TEUs and expand the size of the quay from 1,100m to 1,300m. The terminal currently inhabits 845,000m2 with an additional 130,000m2 available for expansion.
The project, which aims to ensure that port capacity remains ahead of growing demand, marks DP World’s third round of investment since operations began in Brazil in July 2013. To date, more than R$3bn has been invested in the implementation and expansion of the multi-purpose terminal.
“Investing in the Port of Santos is a calculated move that reflects the port’s position as a critical artery for transportation and logistics in the region,” said Fabio Siccherino, CEO of DP World Santos.
“We have a strong advantage in that the port’s location – with surplus area and rail access – provides the opportunity to expand capacity. As a result, we have the flexibility to develop new projects that will support our cargo diversification strategy, helping to meet the needs of national economy sectors and positioning Brazilian products to be more competitive in the global market.”
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