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Business

DP World’s $400M Investment Transforms Callao Port

A significant investment of $400M by DP World, based in Dubai, has boosted the container handling capacity of the South Terminal at the Port of Callao by 80%. This makes Callao one of the leading ports in South America capable of accommodating three vessels simultaneously, or two mega-vessels, following the extension of the Bicentennial Pier near Lima. The pier has been expanded from 650 meters to 1,050 meters as part of DP World’s strategy for Latin America, increasing annual handling capacity from 1.5 million to 2.7 million TEUs (twenty-foot equivalent units) and expanding the container yard space to 40 hectares.

Economy

Hamdan bin Mohammed Advances ‘Dubai Future Solutions’ Initiative

H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of The Executive Council of Dubai, as well as Chairman of the Board of Trustees of the Dubai Future Foundation (DFF), has authorised the launch of the next phase of the ‘Dubai Future Solutions’ initiative today.