Peru nearly doubles top port's capacity with Emirati investment
Peru nearly doubles top port's capacity with Emirati investment
By AFP
Peru's president last Thursday hailed a $400 million investment by Emirati logistics firm DP World that will see the country's main port, El Callao near the capital Lima, nearly double its capacity.
"This work demonstrates that Peru is a reliable country for foreign investment", President Dina Boluarte said at a ceremony inaugurating the upgraded port.
Callao, which will be able to simultaneously receive two ships up to 400 meters (1,300 feet) long, will have the largest capacity on the western coast of the South Pacific, DP World's Peru and Ecuador chief executive Carlos Merino told AFP at the ceremony.
"This investment will create opportunities for new trade routes. We want to connect all markets in the world in faster and smarter ways," company CEO Ahmed Bin Sulayem said at Thursday's event.
El Callao will in the future be able to receive three million 20-foot containers per year, up from 1.6 million in 2023.
