It has been announced that a $38 billion investment will be made by Dubai-based terminal operator DP World for the modernization and expansion of Brazil's facilities in Santos Port.
With the investment to be made in Santos Port by DP World, it is planned to increase the port movement capacity from 1.2 million TEU to 1.4 million TEU annually and to expand the 1,100-meter berth to 1,400 meters. In addition, it is aimed to increase the cellulose export complex capacity in the port from 3.6 million tons to 5.4 million tons per year.
The said investment will be the third investment made by Dubai-based terminal operator DP World since July 2013, when it started operating in Brazil. The company has invested more than $577 million in the Port of Santos.
In the statement made by DP World CEO Fabio Siccherino, he stated that the investments to be made in the Port of Santos are a calculated move since the port is in a critical location in terms of logistics and transportation in the region. It has been explained that the location of the Port, with its large area and railway access, constitutes a strong advantage. It has been stated that the investments to be made in the port will help meet the needs of the national economy sectors and support the company's cargo diversification strategy. It has also been said that DP World, they have the flexibility to develop new projects in Brazil to make local products more competitive in the global market.
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