Dubai-based terminal operator DP World is set to expand significantly in Argentina, further increasing its presence in Latin America, which it regards as one of the world’s key emerging markets.
DP World is investing US$100mn to expand facilities at Buenos Aires port and is also looking at investing in a new mega port and developing three free zones in the country.
DP World has shown particular interest in the growth potential of Argentina’s energy requirements.
Argentina’s economy is expected to grow by 7.3% in 2006 after recording an impressive 9.2% growth in 2005, according to the International Monetary Fund.
DP World subsidiary P&O Ports has been the managing partner in Terminales Rio de la Plata (TRP) since the port’s privatisation in1994.
TRP is the concessionaire for operating Terminals 1 and 2 in Puerto Nuevo, Buenos Aires, handling 1mn TEU annually.
(Attend the Argentina Trade & Export Finance Forum, Buenos Aires, October 25-26, 2006: visit www.gtreview.com – Events section – for details).