Port and Logistics Group to Invest Heavily in New Facility for Containers and Other Cargo

ECUADOR – Global marine terminal operator DP World, has won a 50 year concession for the development of a greenfield multi-purpose port project at Posorja, Ecuador, 65 kilometres from the country’s main business city of Guayaquil. Total investment will be over $1 billion for the entire project with thousands of jobs during construction and close to 1,000 operational jobs. The company will develop the site along the same lines as it has at London Gateway with plans to construct a logistics zone thus creating a regional trading hub. Sultan Ahmed Bin Sulayem, Group Chairman and CEO, DP World, said:

“We are delighted to extend our South American footprint with a major investment in Ecuador. The additional value it will bring to the economy is compelling, increasing competitiveness through the provision of modern container terminal services in central Ecuador.

“Posorja will contribute to our continued growth in the developing markets of South America in the years ahead. This investment builds on our existing network in the region, with terminals in Argentina, Brazil, Peru and Suriname. We look forward to bringing DP World’s world class productivity-enhancing, security, safety and environmental best practices in container terminal development and operation to Ecuador.”

The $500 million initial investment (Phase 1) will include the purchase of land, dredging of a new access channel, a 20 kilometre access road and a 400 metre berth equipped to handle containers and other cargo. While the project will focus on boxed freight, the capability to handle other types of cargo and will be implemented with DP World’s local partners, Consorcio Nobis and Grupo Vilaseca. Construction is expected to start within the next six to nine months and take around 24 months to complete, resulting in 750,000 TEU of capacity. Roberto Dunn, Executive Director, Consorcio Nobis, said:

“We are excited to partner with DP World and Grupo Vilaseca on this landmark project. DP World Posorja will offer Ecuadorean importers and exporters a unique deep-water alternative that will dramatically improve the competitiveness of their products in world markets and has the potential to transform the Ecuadorean economy.”

Development in the region recently has included construction of a new road from Playas to Posorja with plans to construct a major highway to link the new development with Guayaquil. DP World says Posorja Port will complement the company’s extensive network in South America by creating a new deep-water gateway for Ecuador’s global trade with a range of benefits that include:

• Access to a 15 metre draft compared to the current 9.75 metre drafts at the existing Guayaquil ports
• Additional capacity for the Guayaquil terminals which last year recorded throughput of over 1.75 million TEU, close to their existing limits
• Innovative solutions for the world’s largest banana exporting country enabling access to global markets
• Long-term expansion potential with up to about 2,000 metres of berth and over 200 hectares of terminal area