Dubai-headquartered terminal operator DP World has announced a $35m investment to expand and modernise its facilities located on the left bank of Brazil’s Port of Santos.
The investment is expected to see an increase in annual movement capacity from 1.2m teu to 1.4m teu and an expansion of the quay from 1,100 m to 1,300 m. The expansion will also increase the capacity of the cellulose export complex at the port from 3.6m tonnes to 5.4m tonnes annually.
DP World has poured more than $577m into the Port of Santos and the latest round of investments will be the company’s third since operations began in Brazil in July 2013.
“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. 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,” said Fabio Siccherino, CEO of DP World Santos.