Dubai based port operator has awarded
$1.2bn contract to build a deep-water port on the site of the fishing village
of Posorja near the mouth of the Guayas River by government of Ecuador.
DP World has agreed to construct the
port on a build, operate, transfer (BOT) basis. The company will make an
initial investment of $500m to buy land, dredge an access channel and build a
20km highway between Posorja and Guayaquil, the largest city in Ecuador.
When complete, the port will have a depth of 15m and an initial
capacity of 750,000 containers a year. When fully built, this will increase to
2.5 million.
In return for its investment, DP World will run it on a 50-year
concession. Construction is expected to begin in six to nine months and take 24
months to complete.
The decision has been controversial in Ecuador, as the government
awarded the contract by direct hire, rather than going through a competitive
bidding process.
Contencon, the company that has run the neighbouring container
terminal at Guayaquil since 2007, has threatened to take legal action against
DP World for unfair competition. Contencon is a subsidiary of Philippine port
operator International Container Terminal Services.
Ahmed Bin Sulayem, the chief executive of DP World Group, said: “We’re delighted
to extend our South American footprint with a major investment in Ecuador. The
additional value it will bring to the economy is compelling, increasing
competitiveness through the provision of modern container terminal services in
central Ecuador.”
One of the principal exports of the new port is likely to be
bananas: Ecuador is the largest exporter of that fruit in the world.
The presence of the port is likely to benefit the population of
Posorja, where the fishing industry has declined as a result of pollution and
the use of factory trawlers. Unemployment in the area is running at 60%.
Photograph:
The site of the future deepwater port (Ecuador Defence Ministry)
Source: http://www.globalconstructionreview.com/news/dubais-ports-gi9ant-buil5d-ecuad5ors-deepwater/
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