Wednesday , 18 September 2019
Latest News

DP World discusses plans to increase its business in Argentina

DP World’s CEO has discussed the company’s plans to increase its container business in the Port of Buenos Aires with Argentina’s recently-elected President.

The port operator’s plans to grow its presence in the country as regards both its container and cruise businesses were discussed during a meeting between Ahmed Bin Sulayem and Mauricio Macri in Buenos Aires.

In discussing cooperation in the ports and cruise terminals sector, the operator stated that it is deeply committed to Argentina’s economy, adding that it has “faith in the government’s economic policies to nurture the growth of the ports industry”.

Bin Sulayem said in a statement: “Our strategy is based on always creating capacity ahead of demand and being where our customers want us to be, especially in developing markets.”

DP World’s Buenos Aires subsidiary, which invested US$250m in the last 20 years, currently operates the Terminales Rio de la Plata (TRP) container terminal.

TRP, which is the country’s largest container terminal, has a throughput of 600,000 teu per year, accounting for 37% of the market.

The facilities, a joint venture in which DP World owns 55.62%, feature three basins, providing up to five berths for vessel operations, and reefer capacity with 1,650 plugs accommodating the large volume of reefer exports from Argentina.

Macri was elected President of Argentina in November last year.