US$ 538mn first phase of development completed
The landmark US$ 538mn first phase of the new Deep-water Port of Posorja in Ecuador by DP World, is now completed and successfully operational.
The overall US$ 1.2bn project will replicate Dubai’s Jebel Ali Port and Freezone, making Ecuador a trade and logistics hub for South America’s west coast, and opening a gateway for large container ships with capacities exceeding 10,000 TEUs.
Sultan Ahmed Bin Sulayem, Group Chairman and CEO, DP World, recently visited the facility to assess progress of the project, one of the largest international investments in Ecuador.
The port has already been operational for two months, handling thousands of containers and more than a dozen post-Panamax ships. Posorja is expected to welcome an annual volume of 750,000 TEUs during the first phase, and 1.5 million TEUs at full port capacity. The Port is equipped with state-of-the-art technology, world-class infrastructure, and the largest gantry cranes in South America.
“The beginning of operations at Posorja is a defining moment in Ecuador’s economic growth. The new Port and Special Economic Zone will significantly improve Ecuador’s global competitiveness and position the country as a dynamic business hub for the west coast of South America,” remarked Bin Sulayem.
Phase Two development
Phase two of DP World’s project in Ecuador will be the development of ‘Posorja ZEDE’; a special economic zone (SEZ) for maritime, logistics and light industrial businesses. Once completed, the 1,000,070 sqm special economic zone will serve the various needs of investors and traders seeking an integrated location that can act as a manufacturing and distribution hub for their products.
“The Port of Posorja is being developed in line with international best practices, and is already creating thousands of direct and indirect job opportunities that are backed by robust social programs,” remarked Nicolas Gauthier, CEO, DP World Ecuador.
The project includes a deep water port with a capacity of 1.5 million TEUs, in addition to a 21-km access highway and a 21 nautical mile maritime access channel that is 16.5m in depth.
