DP World secures lease agreement for Rodney Container Terminal in Canada

31 July 2016 (Last Updated July 31st, 2016 18:30)

DP World has entered into a long-term lease agreement to expand and operate the multi-purpose Rodney Container Terminal at Saint John, New Brunswick, Canada.

DP World has entered into a long-term lease agreement to expand and operate the multi-purpose Rodney Container Terminal at Saint John, New Brunswick, Canada.

Under the deal, DP World will take over running the daily operations of the terminal starting from January next year, and work with the Saint John Port Authority on an expansion programme to make a 350m deepwater berth, an improved stacking area, and a 12,000ft intermodal rail yard.

The work is expected to be completed in 2021, and after that the lease will continue for 30 years.

"Our international experience and expertise will be further enhanced with this project."

As part of the deal, investment in modern container handling equipment capable of serving post-panamax container vessels will be made.

More gantry cranes and container handling equipment in accordance with the Port Authority’s expansion works programme will also be added.

DP World group chairman and CEO Sultan Ahmed Bin Sulayem said: “We believe that the future growth prospects for the port are strong and we are excited to be participating with Saint John Port Authority in their expansion plans.

“Our investments and commitment to Canada are for the long term, contributing to trade and the development of its national and local economies as well as providing employment for people with a leader of world trade.

“Our international experience and expertise will be further enhanced with this project.”

In Canada, the company already operates three terminals; Centerm terminal in Vancouver, Fairview Terminal in Prince Rupert and Duke Point Terminal in Nanaimo.

DP World’s latest deal in Saint John is expected to bring benefits to importers and exporters in New Brunswick and the Maritimes regions.

Recently, DP World signed a memorandum of understanding (MOU) with Taiwan International Ports Corporation (TIPC) to develop Kaohsiung Port’s Terminal 7 in Taiwan.