DP World has agreed to buy Canadian marine terminal Fraser Surrey Docks from a Macquarie Group fund, according to a reuters report.
The acquisition is being executed through DP World’s Canadian subsidiary DP World Canada Investment Inc, which is 45% owned by Caisse de dépot et placement du Québec (CDPQ).
The deal is expected to close in the first half of this year.
DP World Antwerp First to Deploy Flexible Wireless Backbone Network
As one of Canada’s leading steel import terminals Fraser Surrey Docks operates over 1,200m of berth and 189 acres of yard.
The terminal handles over one million tonnes of grain annually and 250,000 TEU of other materials.
Read More: DP World Reports Flat Gross Volume in Q12019