UAE's DP World, Canada's CDPQ acquire Fraser Surrey Docks
Sultan Ahmed bin Sulayem says the acquisition of Fraser Surrey Docks will bolster its footprint on the west coast of Canada
UAE-based global ports operator DP World has completed the acquisition of Fraser Surrey Docks from Macquarie Infrastructure Partners, alongside its Canada-based partner Caisse de dépôt et placement du Québec (CDPQ), in a move to expand its presence in Canada.
DP World operates terminals in Vancouver, Nanaimo, Prince Rupert, and St. John’s.
Founded in early 1960s, Fraser Surrey Docks is the largest modern and multi-purpose terminal on the West Coast of North America. It operates more than 1,200m of berth as well as 76.5ha of yard and it is also among the region’s major steel import terminals.
Fraser Surrey Docks moves nearly one million tonnes of agriproducts annually and handled more than 350,000TEU in 2019.
DP World’s offering in Canada strengthens again with the acquisition of Fraser Surrey Docks, B.C. Handling over 350,000 TEU in 2019, we're pleased to welcome the largest multi-purpose deep-sea terminal on North America's West Coast to our family: https://t.co/bIk579ICoe— DP World (@DP_World) February 25, 2020
Speaking on the acquisition, group chairman and CEO of DP World, Sultan Ahmed bin Sulayem, said: "The acquisition of Fraser Surrey Docks bolsters our footprint on the west coast of Canada.
According to Sulayem, “Fraser Surrey Docks has the relevant infrastructure and is in the right location to service” the growing demand for multi-purpose facilities in the region.
Meanwhile, the CEO and managing director of DP World Americas, Matt Leech, said: "This new addition to DP World’s portfolio provides unique prospects for additional growth in the dynamic Canadian business environment."
“The addition of Fraser Surrey Docks will create new jobs, and provide overall economic benefit to our community, the Province of British Columbia and to Canada as a whole,” according to general manager of DP World Canada, Maksim Mihic.