DP World acquires Fraser Surrey Docks near Vancouver
DUBAI-based port operator DP World says it has completed the acquisition of Fraser Surrey Docks in British Columbia from Macquarie Infrastructure Partners (MIP) alongside its partner Caisse de depot et placement du Quebec (CDPQ)
DUBAI-based port operator DP World says it has completed the acquisition of Fraser Surrey Docks in British Columbia from Macquarie Infrastructure Partners (MIP) alongside its partner Caisse de depot et placement du Quebec (CDPQ). The purchase price has not been disclosed.
DP World said in a press release that said the acquisition complements its terminal operations in Vancouver, Nanaimo, Prince Rupert and St John?s, reported New York's Maritime Logistics Professional.
DP World CEO Sultan Ahmed Bin Sulayem said: '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. We are confident that our innovative approach will bring DP World's best-in-class terminal operations to Fraser Surrey Docks.'
Fraser Surrey Docks was founded in the early 1960s and has become the largest modern and multi-purpose terminal on the west coast of North America. It operates 1,200 metres of berth, 189 acres of yard and is one of the region's major steel import terminals. It moves one million tonnes of agriproducts annually and serves several container lines, handling 350,000 TEU in 2019.
DP World operates three terminals on Canada's west coast, acting as a key gateway between Asia and the Pacific northwest; and looks forwards to Fraser Surrey becoming the leading stevedore and general cargo operator in Canada.