Port operator DP World and its partner Caisse de dépôt et placement du Québec (CDPQ) have acquired Canada’s Fraser Surrey Docks from Macquarie Infrastructure Partners (MIP).
The financial terms of the acquisition were not disclosed.
This acquisition will complement DP World’s Canadian operations that include terminal operations in Vancouver, Nanaimo, Prince Rupert and Saint John.
The integrated coast-to-coast platform offers bulk, breakbulk and general cargo services to its customers.
DP World aims to become a trade enabler and solutions provider with participation in the wider portion of the supply chain.
DP World CEO and group chairman Sultan Ahmed Bin Sulayem said: “The acquisition of Fraser Surrey Docks bolsters our footprint in the west coast of Canada.
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“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.”
Earlier this month, DP World acquired a 51% share in TIS Container Terminal in the Port of Yuzhny in Ukraine.
Last month, DP World acquired a 44% stake in container terminal operator Swissterminal Holding to strengthen its position as an inland supply chain solutions provider.