DP World seeks BA terminal renewals
DP World has officially requested permission to renew the terminal concessions the company operates in the Port of Buenos Aires. Currently, it operates in terminals 1, 2 and 3, which have a combined area of 430,000 square metres. These were acquired from P&O Ports almost a decade ago.
The request was made by Dubai’s Economy Minister Sultan Bin Saeed Almansoori to the Argentinian vice president Gabriela Michetti.
DP World plans to invest $200m in the three Buenos Aires terminals, whose concessions are due to expire in 2019. Nevertheless, Argentina’s president, Mauricio Macri, was to bring the renewal date forward to 2017 as a means of driving investment.
According to Ms Michetti, the concession renewal will be made by open tender, with no preferential treatment given to incumbents. She added that a possible option would be to allow DP World to continue with the investment and, at worse, leave it as a sub-contractor for the future concessionaire.
DP World Buenos Aires has invested $250m in the last 20 years and currently operates the Terminales Rio de la Plata box handling facility, with an annual throughput of 600,000 teu.
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