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DUBAI / Reuters
Dubai’s DP World won a 50-year concession to develop Posorja port project in Ecuador that will require initial investment of $500 million, the ports operator said in a bourse statement on Tuesday.
The initial investment “will include the purchase of land, dredging of a new access channel, a 20 km access road and a 400 metre berth equipped to handle containers and other cargo,†the statement said. The project will be conducted with DP World’s local partners, Consorcio Nobis and Grupo Vilaseca. A signing ceremony for the deal took place in Ecuador on Monday.