DP World inaugurates new port in Peru

DP World announced the inauguration of a new US$500 million port in Peru, which is set to be one the biggest ports on South America’s Pacific coast, reported Dow Jones Newswires.

The port is situated in the port district of Callao, outside the capital city of Lima. Known as Muelle Sur, it joins more than 50 terminals operated by DP World, that are spread across more than 31 countries.

One of the largest port projects in recent history, Muelle Sur will be able to handle 1.2 million containers annually. Each of its 24 cranes will be able to handle 25 containers per hour.

Sultan Ahmed bin Sulayem, chairman, DP World, said that Peru was chosen as a member of the DP World network because it was a model of economic and political stability.

The Dubai World subsidiary partnered with the Peru based company, Uniport, on the project in Callao, which is already Peru’s largest port and one of the largest in South America.

Mohammed Sharraf, executive director, DP World, said that the port company was keen to provide opportunities for communities and economies, wherever it operates.

Despite the turmoil surrounding the debt struck Dubai World, the port operator has continued to remain profitable, posting US$580 million in earnings before interest, depreciation and taxes in the first half of 2010.

In September, the Dubai government controlled terminal firm was named as the third biggest ports operator in the world, holding 6.7 percent of the global market share, according to a report by Drewry Shipping Consultants.
(Source:www.cargonewsasia.com)