First phase of DP World's $1.2bn Ecuador port project is now completed
The US$538m first phase of the new Deepwater Port of Posorja in Ecuador by DP World, is now completed and successfully operational. The overall $1.2 billion 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.
DP World group chairman and CEO Sultan Ahmed Bin Sulayem visited the facility to assess progress of the project, which is 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.
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. The freezone will be modelled on Dubai’s Jebel Ali Port and freezone in the United Arab Emirates, which is home to more than 7,500 companies, which together are responsible for around 35% of Dubai’s gross domestic product (GDP) and employ more than 135,000 people. The Jebel Ali model has already been successfully replicated around the world including London Gateway in the UK and the greenfield terminal in Caucedo, Dominican Republic.
The Deepwater Port of Posorja is a strategic partnership between the public sector and the private sector. DP World is responsible for the design, financing, construction and operations of the facility for a period of 50 years, following which the port will be handed over to the state. 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 16.5 meters in depth.