Wednesday, September 6, 2017

After Fairview opening, DP World's global plan shifts focus to Ecuador

The travel itinerary for DP World
Chair and CEO Sultan Ahmed Bin
Sulayem took him from Prince Rupert
to Ecuador in the last week
If the Port of Prince Rupert is considered a Northwest gateway, then plans for a 1 billion dollar investment in a port facility in Ecuador might be listed as part of another addition to DP World's southern entry points.

Just as the expanded capacity of the Fairview Terminal in Prince Rupert began to go into operation, the global shipping giant that operates the Prince Rupert facility launched another investment project, this time in the South American country.

With the project, DP World adds to its footprint in South America, where it already operates facilities in Argentina, Brazil, Peru and Suriname.

DP World Chair and CEO Sultan Ahmed Bin Sulayem who was part of the official ceremonies in Prince Rupert just last week was jetting south following the Fairview opening, taking part in the ground breaking ceremony for an ambitious port project in the Ecuadorian port city of Posorja.

The first phase is a 500 million investment in Phase 1, which will include the purchase of land, dredging of a new access channel, as well as construction of a 20 km access road and development of a 400 metre berth equipped to handle containers and other cargo.

It's expected to take close to two years to complete the initial phase of the project, with the new port located 65 kilometres from Ecuador's main commercial city of Guayaquil.

The new port development moved forward after the global terminal operator received a 50 year concession from the Ecuador government to build and manage the nations first deep water port. Once completed it will have capacity to handle 750,000 TEU's and will connect Ecuador with international markets.

It was from the North to South for Sultan Ahmed Bin Sulayem.
the DP World Chair and CEO left Prince Rupert's Fairview expansion
opening for a ground breaking ceremony in Ecuador

That public/private partnership was hailed by the DP World Chair, who noted how the project is important both to Ecuador and for the global terminal operator.

“This is an important landmark in Ecuador’s growth story, we’re celebrating today the first public-private partnership that will benefit local economy and change forever the way it trades with the world. 

The port has been designed to serve the growing needs of global markets, something we’ve been able to witness first-hand with our 78 terminals around the world, and will dramatically improve the global competitiveness of Ecuadorean exporters."

The terminal will add to the growing inventory of port facilities that the United Arab Emirates company has invested in over the last few years.

In April of 2015 DP World announced its plans to take over the terminal operations in Prince Rupert from the former and original terminal operator Maher.

Some background on the Ecuador project can be found from this information release from DP World.

Notes related to the ground breaking and work ahead can be reviewed below:

Ecuador, DP World begin port construction
DP World Breaks Ground on $1 Billion Ecuador port
DP world begins construction of $1bn port in Ecuador
DP World launches construction of deepwater port in Posorja, Ecuador
DP World wins 50 year concession to develop Ecuador port
DP World breaks ground on $1bn Equador port project

Further background on the operations at Prince Rupert's Fairview Terminal can be found on our archive page.

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