DP World buys Vancouver's Fraser Surrey Docks from Macquarie
DUBAI's DP World has acquired multipurpose marine terminal Fraser Surrey Docks in Vancouver from Sydney's Macquarie Infrastructure Partners, a fund managed by the Macquarie Infrastructure and Real Assets division of Macquarie Group
DUBAI's DP World has acquired multipurpose marine terminal Fraser Surrey Docks in Vancouver from Sydney's Macquarie Infrastructure Partners, a fund managed by the Macquarie Infrastructure and Real Assets division of Macquarie Group.
The acquisition provides an attractive platform to better serve customers' break-bulk and dry bulk requirements, said DP World, adding its existing facilities at Vancouver and Prince Rupert have enjoyed strong growth in recent years, reports Port Strategy, of Fareham, Hampshire.
Said DP World chairman and CEO Sultan Ahmed Bin Sulayem: 'We are pleased to announce the acquisition of Fraser Surrey Docks, which complements our footprint in the west coast of Canada.
'We are seeing increasing 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 look forward to bringing DP World's best-in-class terminal operations to Fraser Surrey Docks.'
Fraser Surrey Docks operates over 1,200-metre of berth and 189 acres of yard and is one of Vancouver's major steel import terminals. It also handles over one million tonnes of grain and serves several container lines, handling 250,000 TEU in 2018.
The acquisition will be effected through DP World's Canadian subsidiary, DP World Canada Investment, which is owned 45 per cent by Quebec City's Caisse de depot et placement du Quebec.