DP World has announced a $35-million investment to expand and update its facilities at the Port of Santos, Brazil.
Maritime Executive reports that the expansion is expected to increase the port’s annual movement capacity from 1.2m TEUs to 1.4m, while the quay size will be expanded from 1 100 metres to 1 300.
According to DP World, the expansion project at Brazil’s busiest port has been planned to ensure its capacity keeps ahead of growing demand. The port operator, which already occupies 845 000 square metres and has an additional 130 000sqm available for development, has described the project as a huge expansion opportunity. It is the company’s third round of investment since it started port operations in the country in July 2013. It has since ploughed more than $577m into upgrading operations at the port.
The port terminal has strategic access to land, road and rail transport and is the home of major cellulose pulp operations.
“Investing in the Port of Santos is a calculated move that reflects the port’s position as a crucial artery for transportation and logistics in the region. We have a strong advantage in that the port’s location - with surplus area and rail access - provides the opportunity to expand capacity,” DP World Santos CEO, Fabio Siccherino, said.
Santos Port Authority’s 2022 financial results, released in February, recorded a significant increase in profitability, achieving a net profit of $106m, an increase of 66.3% compared to 2021, and the best result in its history. The port credited its performance to its constant search for efficiency and optimised new leases.
