DP World group chairman and CEO Sultan Ahmed Bin Sulayem said it would improve the competitiveness of Ecuadorian exports.
It follows the 50-year concession DP World won last year to build the facility with a capacity of 750,000 TEU, located 65 kilometres from Guayaquil, reports London's Container Management.
The US$500 million Phase 1 investment includes the purchase of land, dredging of a new access channel, a 20-kilometre access road and a 400 metre quay.
Total investment will be more than $1 billion for the entire project with close to 1,000 jobs during operations along with plans to develop a logistics zone to create a regional trading hub.
It follows the 50-year concession DP World won last year to build the facility with a capacity of 750,000 TEU, located 65 kilometres from Guayaquil, reports London's Container Management.
The US$500 million Phase 1 investment includes the purchase of land, dredging of a new access channel, a 20-kilometre access road and a 400 metre quay.
Total investment will be more than $1 billion for the entire project with close to 1,000 jobs during operations along with plans to develop a logistics zone to create a regional trading hub.