More Macquarie port assets sold off
DP World has acquired multipurpose marine terminal Fraser Surrey Docks in Vancouver from 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.
Sultan Ahmed Bin Sulayem, group chairman and chief executive of DP World, said: "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."
Steel import hub
Fraser Surrey Docks operates over 1,200m of berth and 189 acres of yard and is one of Vancouver's major steel import terminals. It also handles over 1m tonnes of grain and serves several container lines, handling approximately 250,000 teu in 2018.
The acquisition will be effected through DP World's Canadian subsidiary, DP World Canada Investment Inc. which is owned 45% by Caisse de dépot et placement du Québec.
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