12 Juni 2016

[120616.EN.BIZ] DP World-led Group To Invest US$1 Billion in Ecuadorian Box Shop

DP WORLD has been awarded a 50-year concession to develop and operate a deep-water, green field container and multipurpose terminal in Ecuador located at Posorja port in the greater Guayaquil area.

A consortium led by global terminal operator has agreed to invest up to US$1 billion to develop the new terminal and supporting infrastructure.

The consortium includes Consorcio Nobis, a Guayaquil-based industrial and real estate services conglomerate, and Grupo Vilaseca, an Ecuadorian business group with varied interests in the agro industries, real estate, packaging and other sectors, reported Alphaliner.

DP World and its partners will invest $500 million in phase one, for the purchase of land, dredging a new access channel, a 20 kilometre access road and a 400 metre berth equipped to handle containers and other cargo.

The facility will have the capacity to handle 750,000 TEU annually and mainline containerships with drafts of up to 15 metres.

Construction is expected to start within the next six to nine months and take 24 months to complete. The company, through a subsidiary, will also be in charge of terminal operations.

DP World claims that the terminal site has a long-term potential to extend it beyond phases one and two. If warranted by demand, a total of 2,000 berth metres and a 200-hectare yard could be built at Posorja.

Individual shareholdings in the project have not been disclosed, but DPW is believed to be the lead partner in terms of investment.

Source : HKSG.

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