DP World builds port in Peru

Dubai Ports World has begun construction on what is promised to be one of the largest ports in the Americas in El Callao, Peru with an initial investment of more than $300 million (Dh1.1 billion).

The Muelle Sur port is due to be completed in 2010 and will be capable of moving up to 1.2 million containers a year, Dubai Ports president Sultan Ahmed bin Sulayem said on Wednesday.

Bin Sulayem said the development in El Callao, Peru's largest port, close to the capital Lima, and one of the largest in South America, was the start of Dubai investment in the region. He stressed his interest in hotels and tourism in Peru.

Dubai Ports World, the world's fourth largest port operator, linked up with Peru's Uniport to secure the 30-year arrangement. Dubai Ports World sold its US operations after pressure in 2006 for US lawmakers concerned about security at Arab-run ports. (AFP)

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