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DP World, Odebrecht enter Brazil Embraport project
August 31, 2009 / 3:13 PM / 8 years ago

DP World, Odebrecht enter Brazil Embraport project

(In Aug. 20 story, corrects headline, text to show company name is DP World not Dubai World)

DUBAI, Aug 20 (Reuters) - DP World DPW.DI, the Dubai government-controlled port operator, said on Sunday it would acquire a majority stake in Embraport, a private Brazilian port in Santos, in partnership with Brazil’s Odebrecht [ODBESO.UL].

The first phase of the project would be completed in 2012 at a cost of $500 million and operated by DP World, a statement said.

“Coimex Group, leader of the (Embraport) project since its inception, reduces shareholding, but remains a key member of the partnership,” it said.

Editing by Nick Macfie

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