{"id":79250,"date":"2024-06-24T00:00:00","date_gmt":"2024-06-24T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2024\/06\/24\/dp-world-eyes-usd-3-bn-in-port-investments-in-africa\/"},"modified":"2024-06-24T00:00:00","modified_gmt":"2024-06-24T00:00:00","slug":"dp-world-eyes-usd-3-bn-in-port-investments-in-africa","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2024\/06\/24\/dp-world-eyes-usd-3-bn-in-port-investments-in-africa\/","title":{"rendered":"DP World eyes USD 3 bn in port investments in Africa"},"content":{"rendered":"

DP World plans to shell out USD 3 bn on new port infrastructure in Africa over the next <\/strong>three to five years,<\/strong> DP World CEO and Managing Director for sub-Saharan Africa Mohammed Akoojee told Bloomberg<\/a> in an interview. The logistics giant is considering investments in the partial privatization of South African rail, port, and pipeline company Transnet, and the port of Lamu in Kenya, where there is also a privatization process underway.<\/p>\n

The rationale:<\/strong> The investment target comes on the back of the region\u2019s long-term growth potential, Akoojee said, adding that \u201cthe cost of logistics and supply chain across Africa is very high relative to other global markets.\u201d Heightened demand for critical minerals also signals the need for greater logistics capacity. \u201cWe\u2019ve seen demand increasing over the last few years, largely driven by the whole electrification drive globally and the demand for commodities like cobalt, lithium,\u201d Akoojee added.<\/p>\n

IN OTHER DP WORLD NEWS<\/strong>- <\/p>\n

#1- <\/strong>The Callao port expansion project is complete: <\/strong>The logistics giant has completed its USD 400 mn Bicentennial Pier expansion project at Callao port in Peru, according to a press release<\/a>. The expansion boosts the port\u2019s container handling capacity by 80%, the statement said.<\/p>\n

Background: <\/strong>The expansion has extended the pier from 650 to over 1k meters, making Callao one of few ports in South America able to accommodate three vessels simultaneously. The port\u2019s handling capacity has increased from 1.5 mn TEUs per year to 2.7 mn TEUs, while the container yard space has expanded to 40 hectares. The project also involved the addition of 14 electric cranes and 20 electric ITVs. <\/p>\n

REMEMBER- <\/strong>DP World commenced the expansion project in September 2021 with an initial investment of USD 350 mn<\/a>. The Port of Callao handles almost 90% of Peru\u2019s container traffic, with DP World managing around 60% of the port\u2019s containerized cargo. <\/p>\n

#2- <\/strong>DP World has more than doubled its container shipping capacity at Romania\u2019s<\/strong> Constanta port<\/strong>, which is part of a EUR 130 mn investment<\/a> by the company to boost its cargo capacity in the country, DP World Romania CEO Cosmin Carstea told Reuters<\/a> in an interview. The company\u2019s container shipping capacity has now surged to 1.5 mn (TEUs) from the 700k TEUs handled in the year prior, Carstea said. The facilities can increase flows by some 2mn metric tons per year, the newswire added.<\/p>\n

Background: <\/strong>Some EUR 65 mn of the investment went into new facilities at Constanta port, including a 5-hectare cargo terminal catering to heavy, large, and complex cargo and roll on\/roll off (RoRo) vessels. The investment \u2014 which targets three sites in Romania \u2014 is expected to boost cargo volumes by some 2 mn tonnes a year, strengthening trade links between Black, North, and Adraitic seas, and mainland Europe.<\/p>\n

#3-<\/strong> The company <\/strong>is also looking to invest in Thailand\u2019s Land Bridge project<\/strong> \u2014 a logistics corridor connecting Chumphon in the Gulf of Thailand to Ranong on the Andaman Coast, Bangkok Post<\/a> reports, citing a statement from Thailand\u2019s Transport Minister Suriya Juangroongruangkit. DP World Chairman and CEO Sultan Ahmed bin Sulayem is set to meet with Thai Prime Minister Srettha Thavisin next month on 1 July to discuss the matter. Thailand said it was looking for investors for the Land Bridge Project \u2014 set to cost THB 1 tn \u2014 back in September, Bangkok Post<\/a> reported at the time. The project, first revealed in 2021, looks to boost connectivity in the southern Andaman region. <\/p>\n","protected":false},"excerpt":{"rendered":"

The logistics giant is considering investments in the partial privatization of South Africa\u2019s Transnet and the port of Lamu in Kenya<\/p>\n","protected":false},"author":1,"featured_media":79251,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[45],"tags":[23,44,129],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-79250","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment-watch","tag-dp-world","tag-investment-watch","tag-uae","wpautop","entry"],"acf":{"mongo_id":"6f5fea43-2e0b-48c4-b36d-956c70323f60","order":"4","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/6\/1481.jpg","photo_position":"above","homepage_title":"","full_issue_title":"DP World eyes USD 3 bn in port investments in Africa","related_issue":[79243],"teaser":"The logistics giant is considering investments in the partial privatization of South Africa\u2019s Transnet and the port of Lamu in Kenya","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/6\/.d4bf9f95-72d1-40de-bf10-a691674874a5.mp3"},"yoast_head":"\nDP World eyes USD 3 bn in port investments in Africa - 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