Dubai Giants Eye Billion-Dollar Port Expansion in Peru

Dubai's DP World intends to invest over $1 billion to enhance port infrastructure in Peru, improving agro-exports, employment, and its regional logistics standing. The announcement followed a meeting between DP World's CEO Sultan Ahmed bin Sulayem and Peruvian President Dina Boluarte at the World Economic Forum in Davos.

Dubai-based DP World is set to pour over $1 billion into expanding Peru's port infrastructure, a move hailed by the Peruvian government as a major boost to agro-exports and employment.

The strategic investment aims to fortify Peru's status as a logistics hub in the region, as emphasized by an announcement from the presidential office on X. The declared investment comes after DP World CEO Sultan Ahmed bin Sulayem met with Peruvian President Dina Boluarte during the World Economic Forum in Davos, Switzerland.

DP World is no stranger to Peru, already managing the Callao port terminal, the largest in the nation found on its central coastline.

(With inputs from agencies.)