DP World plans to invest US$38 million to upgrade Port of Santos
DUBAI : DP World has unveiled plans to invest US$38 million in 2023 to expand and upgrade its facilities on the left bank of Brazil’s Port of Santos, one of the largest and most modern private multi-purpose port terminals in the country.
DP World aims to increase the annual container capacity of the terminal from 1.2 million to 1.4 million TEUs and expand the size of the quay from 1,100 metres to 1,300 metres. The terminal currently inhabits 845,000 m², with an additional 130,000 m² available for expansion.
The project will be DP World’s third round of investment since operations began in Brazil in July 2013. To date, more than US$580 million has been invested in the implementation and expansion of the terminal, which has access to land, road and rail, enabling large-scale multi-purpose operations.
Fabio Siccherino, CEO of DP World Santos, commented, “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.”