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DP World to establish new terminal at Port Santos: Emirati port operator DP World has inked a 30-year agreement with Brazil’s leading railway operator Rumo to establish a new terminal for grains and fertilizers at Port Santos, according to a statement. The agreement will boost the port’s handling capacity by some 12.5 mn tons per year — including 9 mn tons of grains and 3.5 mn tons of fertilizer. Rumo will pour USD 500 mn of investment into the project.
The details: The new terminal will be developed in DP World’s private-use terminal on Santos’ left bank, the statement said. The agreement's initial operating period is for 30 years, with an option to extend subject to DP World’s approval. DP World will overlook port operations, including cargo movement.
The timeline: Construction is expected to take some 30 months, upon fulfillment of precedent conditions such as government approvals, the statement also said.
Background: DP World invested some USD 50 mn as part of a larger USD 85 mn terminal expansion project to boost its container operations at the port, acquiring 21 new port assets to increase capacity to some 1.7 mn TEU, according to a separate statement released last week.
IN OTHER DP WORLD NEWS-
The port operator plans to boost its container handling capacity globally by around 7.6 mn twenty-foot equivalent units (TEU) to 102.6 mn TEUs by the end of 2024, from 95 mn TEUs the year prior, Emirates Today reports, citing a DP World document.
TEUs? A TEU is a standard measurement in the shipping and terminal industry and is based on the dimensions of a common twenty-foot shipping container. The acronym stands for Twenty-foot Equivalent Unit. A double-length container, for example, would count as two TEUs.
The breakdown: The firm will add around 1 mn TEUs to its Jeddah market, around 900k TEU to its London Gateway, and 400k TEUs each to South Korea’s Busan Port and India’s Cochin Port. A further 3 mn containers will be added to its Chinese facilities, 400k containers to its Belgium market, 300k containers each to Egypt's Sokhna Port and Tanazania’s Dar el Salaam Port, and 200k containers each to Canada’s Vancouver ports and Peru’s Callao Port.
