DP World has unveiled plans to spend $38m this year on its facilities located on the left bank of Port of Santos in Brazil.
The financing will be used to expand and upgrade facilities at the port, which is claimed to be one of the most modern private multi-purpose port terminals in the country.
The company will expand its annual movement capacity from 1.2 million twenty-foot equivalents (TEUs) to 1.4 million TEUs as well as enlarge the quay size from 1,100m to 1,300m.
Presently occupying an area of 845,000m², the terminal has a further 130,000m² available for expansion.
Furthermore, the expansion will increase the cellulose export complex’s capacity from 3.6 million tons to 5.4 million tons per annum.
The project represents the Dubai-based port operator’s third investment round since launching its Brazil operations in July 2013.
So far, the company has invested $577m (R$3bn) to implement and expand the terminal, enabling large-scale multi-purpose operations by offering better access by road and rail.
DP World Santos CEO Fabio Siccherino said: “Investing in the Port of Santos is a calculated move that reflects the port’s position as a critical artery for transportation and logistics in the region.
“We have a strong advantage in that the Port’s location – with the surplus area and rail access – provides the opportunity to expand capacity.”