Dubai’s DP World has expanded its foothold in North America with the acquisition of Canadian marine terminal Fraser Surrey Docks from Macquarie Infrastructure Partners (MIP).
The acquisition, which was done alongside DP World’s partner Caisse de dépôt et placement du Québec (CDPQ), adds to the company’s significant investment portfolio in Canada with it already operating terminals in Vancouver, Nanaimo, Prince Rupert and St. John’s.
“The acquisition of Fraser Surrey Docks bolsters our footprint in the West Coast of Canada. DP World has been seeing growing demand from our customers for multi-purpose facilities in the region and we believe Fraser Surrey Docks has the relevant infrastructure and is in the right location to service this demand,” said Sultan Ahmed bin Sulayem, group chairman and CEO of DP World.
In May last year, the newly delisted DP World has announced its plans to acquire the terminal, which is one of the largest modern and multi-purpose terminals on the West Coast of North America, operating more than 1,200 metres of berth, 189 acres of yard and moves approximately 1 million tonnes of agricultural products every year.
