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DP World looks to expand Latin American portfolio

DP World looks to expand Latin American portfolio
Argentina wants to build its partnership with DP World, and provide a greater role for it to serve its economy through its investments ports and maritime services, the Dubai-based port operator said this week.

DP World claims to have invested $250m in Argentina in the past 20 years. DP World group chairman and ceo Sultan bin Sulayem met Argentinian president Maurcio Macri to discuss cooperation in the ports and cruise terminals sector, the company said.

Members of the Argentinian transport cabinet, including Minister of Transport, Guillermo Dietrich; President of the Port Authority, Gonzalo Mortola; Under Secretary of Waterways, Jorge Metz; Advisor for Foreign Investments, Horacio Reyser and the Under Secretary of Foreign Investments, Marcelo Lucco, attended.

“The discussions with President Macri focused on the development of our business in Argentina. We highlighted our deep commitment to the economy of the country and our faith in the government’s economic policies to nurture the growth of the ports industry," bin Sulayem said.

“Our strategy is based on always creating capacity ahead of demand and being where our customers want us to be, especially in developing markets.”

South American press reports also said that Ecuadorian President Rafael Correa was likely to sign a concession contract on 6 June for the development of a deep-water port at Posorja, 70km south-west of Guayaquil, Ecuador’s largest city, a ceremony bin Sulayem is sure to take in on his trip.

DP World Buenos Aires currently operates the Terminales Rio de la Plata (TRP) container terminal, a jv in which it owns 55.6%, with throughput of 600,000 teu per year, some 37% of the market.

“TRP has significant reefer capacity, 1,650 plugs, which accommodate the large volume of reefer exports from Argentina,” it said.

“The terminal handles deep-sea vessels from Europe, Asia and North America, as well as feeders to both the East and West Coast of South America and barges upriver to Rosario.”

DP World already has port interests at Callao in Peru, Santos in Brazil, and Paramaribo in Suriname.