DP World Invests $35 Million in Port of Santos
DP World announced it will invest $35 million in 2023 to expand and modernize its facilities 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 to 1.4 million TEUs and expand the size of the quay from 1,100 meters to 1,300 meters. The terminal currently inhabits 845,000 square meters, with an additional 130,000 square meters available for expansion.
The project marks DP World’s third round of investment since operations began in Brazil in July 2013. To date, more than R$3 billion has been invested in the implementation and expansion of the terminal, which has access to land, road and rail.
Fabio Siccherino, CEO of DP World Santos, said, “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.”