DP World Eyes $1 Billion Expansion in Peru's Port Infrastructure

DP World is considering a significant investment of over $1 billion to develop port infrastructure in Peru. The plan, discussed during a meeting between President Dina Boluarte and DP World's CEO Sultan Ahmed bin Sulayem, aims to enhance the Callao port terminal to boost agricultural exports and job creation.

DP World is poised to invest more than $1 billion in expanding port infrastructure in Peru, according to the country's government. The announcement comes after a meeting between Peruvian President Dina Boluarte and the UAE-based port and logistics firm's CEO, Sultan Ahmed bin Sulayem.

The potential investment is expected to augment the Callao port terminal, which stands as the largest port in the Andean region. This expansion aims to offer significant contributions to Peru's economy by creating new jobs and bolstering agricultural exports.

The discussions took place at the World Economic Forum in Davos, where Boluarte also met with executives from other major firms like Anglo American and Glencore, both of whom are exploring further investments in Peru's mining sector.

(With inputs from agencies.)