DP World and Odebrecht Take Majority Stake in Brazilian Port

1 September 2009 (Last Updated September 1st, 2009 18:30)

Dubai-based DP World has announced a partnership with Brazil’s Odebrecht to acquire a majority stake at Brazilian port terminal Empresa Brasileira de Terminais Portuários (Embraport) in Santos. Embraport is being built adjacent to an existing port facility in the city of Santos and wil

Dubai-based DP World has announced a partnership with Brazil’s Odebrecht to acquire a majority stake at Brazilian port terminal Empresa Brasileira de Terminais Portuários (Embraport) in Santos.

Embraport is being built adjacent to an existing port facility in the city of Santos and will have a capacity of more than 1.5 million twenty foot equivalent container units (TEU) and about two billion litres of ethanol.

DP World will invest $500m in the first phase of the project, which will be completed in 2012 with around one million TEU capacity, DP World said.

Odebrecht will increase the potential captive cargo, both cabotage and export, that can be handled through the project facility.