The $538 million first phase of the new Deepwater Port of Posorja, Ecuador, is now completed and successfully operational, reports DP World.
According to DP, the $538 million initial investment (Phase 1) included the purchase of land, dredging of a new access channel, a 20-kilometer access road and a 400-meter berth equipped to handle containers and other cargo.
The contract to develop the new access channel to the Deep Water Port in Posorja was signed between DP World Posorja S.A. and Flanders Dredging Corporation N.V. back in 2018.
It included removal of approximately 15 million cubic meters of sediment to create the new access channel that is now 16.5 meters deep, 175 meters wide and 21 nautical miles long.
Nicolas Gauthier, CEO of DP World Ecuador commented: “The Port is being developed in line with international best practices, and is already creating thousands of direct and indirect job opportunities that are backed by robust social programs. Vessels that in the past could not come to Ecuador due to size restrictions will now be offered a safe, productive and efficient call in Posorja.”
The overall US$1.2 billion project will replicate Dubai’s Jebel Ali Port and freezone, making Ecuador a trade and logistics hub for South America’s west coast, and opening a gateway for large container ships with capacities exceeding 10,000 TEUs.
Phase two of DP World’s project in Ecuador will be the development of ‘Posorja ZEDE’; a special economic zone (SEZ) for maritime, logistics and light industrial businesses.