DP World agreed to buy Canadian marine terminal Fraser Surrey Docks from a Macquarie Group fund. The terminal will be purchased through the Canadian subsidiary DP World Canada Investment Inc, which is 45% owned by Caisse de dépot et placement du Québec (CDPQ).
According to Reuters, the purchase is calculated to be under $300 million.
The deal is expected to finalize during the first half of 2019, with the terminal being bought from Macquarie Infrastructure Partners, which is a fund managed by the Macquarie Infrastructure and Real Assets (MIRA) division of Macquarie Group.
Te terminal is located in the wider Vancouver and is considered one of the city’s key steel import terminals.
Speaking about the deal, DP World Chairman Sultan Ahmed Bin Sulayem informed that there is rising demand for multi-purpose facilities in the region and Fraser Surrey Docks will be able to service this demand.
The terminal features 1,200 meters of berth and 189 acres of yard, while during 2018 it handled more than 1 million tonnes of grain and 250,000 twenty foot equivalent shipping containers.
Source:safety4sea
