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FINANCIAL NEWS
Dubai’s DP World sees Embraport’s phase 1 completed in 2013
18 Feb 2012
(MENAFN) Dubai’s DP World said phase 1 of its Brazilian port development project will be completed in 2013, state-run news agency WAM reported.
Embraport project is the largest Brazilian private multi-modal port terminal, located in the city of Santos, will have around 1 million TEU capacity in the first phase when completed, and will be operated by DP World.
Porto de Santos is the largest Brazilian container port and the largest in South America, with 90 percent of its cargo destined for the local Sao Paulo market.
DP World CEO Sultan Bin Sulayem said when Embraport is completed it will contribute significantly to Brazil’s growth and will serve the nation’s logistics interests.
In August 2009, DP World signed a partnership with Odebrecht to acquire a majority stake in Embraport.
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