DP World plans $38 million investment in Port of Santos

DP World plans $38 million investment in Port of Santos

DP World has announced a $38 million investment to modernise and expand its facilities located on the left bank of the Port of Santos, Brazil.

The project marks the company’s third round of investment since it began operations in Brazil in July 2013.

The investment will be used to increase the annual movement capacity of the port from 1.2 million TEU to 1.4 million TEU, as well as expand the size of the quay from 1,100 to 1,300 metres.

READ: Brazil ditches Port of Santos privatisation

The Port of Santos is one of the largest and most modern private multi-purpose port terminals in Brazil. With this expansion, DP World aims to ensure that port capacity stays ahead of growing demand.

The terminal is strategically located with access to land, road, and rail, enabling large-scale multi-purpose operations.

The Santos Port Authority (SPA) ended 2022 with the best result in its history by recording a net profit of R$547.3 million ($105 million), an increase of 66.3 per cent over 2021.

“This investment reflects the port’s position as a critical artery for transportation and logistics in the region,” said Fabio Siccherino, CEO of DP World Santos.

“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.”

In addition to its multi-purpose operations, the expansion is set to increase the capacity of its cellulose export complex from 3.6 million tonnes to 5.4 million tonnes annually.

To this date, DP World’s investment in the Port of Santos amounts to more than R$3 billion ($577 million).

DP World handled 79 million TEU across its global portfolio of container terminals for 2022.

The figure stands for a percentage increase of 1.4 year-over-year (YoY) and 2.8 on a like-for-like basis.

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