DP World wins 50-year concession to develop Ecuador port

Dubai’s DP World has won a 50-year concession to develop a port project in Ecuador that will require initial investment of $500 million, the ports operator said in a bourse statement on Tuesday.

The initial investment “will include the purchase of land, dredging of a new access channel, a 20km access road and a 400-metre berth equipped to handle containers and other cargo,” the statement said.

The project will be conducted with DP World’s local partners, Consorcio Nobis and Grupo Vilaseca. A signing ceremony for the deal took place in Ecuador on Monday.

More to follow.


Follow The National’s Business section on Twitter


Business RSS feed - The National

About Author

You may also like

ADFF Introduces New Award for Environmental Films

  • Sep 09, 2011
WAM Abu Dhabi, Sept. 6th, 2011 (WAM) -- The Abu Dhabi Film Festival (ADFF), organized by Abu Dhabi Authority for

DCL analyzes thousands of food and environmental samples

  • Sep 09, 2011
Tue 06-09-2011 22:08 PM WAM Dubai, Sept. 6th, 2011 (WAM) -- Food and Environment Laboratory Section of Dubai Central Laboratory