Under a new 50 year agreement, DP World will add Ecuador to its portfolio of South American ports, which currently includes facilities in Argentina, Brazil, Peru, and Suriname. The first phase of the company's $1.2 billion multi-purpose port project at Posorja will take approximately 24 months to complete.
Posorja will contribute to our continued growth in the developing markets of South America in the years ahead.- Chairman And Chief Executive, DP World Group
A US$500 million initial investment will be used for the purchase of land, the dredging of a new 15 metre deep access channel, the building of a 20 kilometre access road, and the construction of a 400 metre berth at the deep-water port to handle shipping containers and general cargo. Upon completion of the first phase, the port will be able to accommodate 750,000 TEUs a year.
A logistics zone is also planned for development, which is expected to increase the country’s competitiveness as a regional trading hub.