Dubai Ports World Group announced yesterday the completion of its acquisition of Fraser Sary Dux from Macquarie Investment Partners (MIP), in partnership with the Deposit and Investment Fund in Quebec (CDPQ), where this acquisition will contribute to Supporting the presence of "DP World" in Canada, which also includes the operations of the stations in Vancouver, Nanaimo, Prince, Robert and St. John, and provides an integrated marine services platform between the eastern and western coasts of Canada, providing customers with bulk and separated cargo services and general cargo services.
The group said in a statement that it is adding to its portfolio the largest multi-purpose deep-water marine station on the west coast of North America, noting that its strategy is to become a leading catalyst and provider of solutions, while looking to participate in a larger part of the supply chain.
"DP World" indicated that it has made a lot of investments in the port business unit, logistics and marine services in order to achieve direct communication with customers and provide logistical solutions, in addition to eliminating inefficiencies in the supply chain in order to accelerate the business.
Growing demand
The Chairman of the Board and CEO of the Group, "DP World", Sultan Ahmed bin Sulayem, said that "the acquisition of (Fraser Sari Dux) contributes to support our presence on the west coast of Canada, especially with the growing demand from our customers for multipurpose facilities in the region." He added: "We are certain that (Fraser Sary Docks) has all the necessary infrastructure, and that it is in the appropriate location to meet this demand." Bin Sulayem continued: “We are fully confident that our innovative approach will contribute to adding the best terminal operations in its class from (DP World) to the work of (Fraser Sary Docks).”
More growth
For his part, Chief Executive Officer General Manager of "DP World - The Americas", Matt Leach, said, "This new addition to the (DP World) portfolio provides unique prospects for further growth in Canada's dynamic business environment."
It is noteworthy that "DP World" is a major investor in Canada, and as an operator of three stations on the west coast of Canada, the company provides a major gateway between Asia and the Northwest Pacific region, and looks forward to becoming a "Fraser Sary Docks" a leading operator in the field of freight And general merchandise in Canada.
Global partnership
The new acquisition comes within the framework of the global partnership between "DP World" and the Deposit and Investment Fund in Quebec (CDPQ). In 2016, "DP World" entered into a partnership with the Fund to create a $ 3.7 billion platform to invest in ports and terminals around the world . Since then, this partnership has benefited from the distinguished record of "DP World" in the port sector, and from CDPQ's internally developed experiences in the field of infrastructure to develop a high-quality portfolio of 10 ports and stations around the world, including sites In Canada, Chile, Dominican Republic, and Australia.
Main station
"Fraser Sary Docks" company was established in the early sixties of the twentieth century, and it has become the largest modern and multi-purpose station on the west coast of North America, and the company runs a marina with a length exceeding 1200 meters and an area of 189 acres, which is one of the main stations for importing steel in the region. The station also handled annually about one million tons of agricultural products, and serves a number of container shipping lines. Last year it handled more than 350,000 TEUs measuring 20 feet.
"Adding (Fraser Surrey Docks) will create new job opportunities and provide total economic benefits to our society, to the District of British Columbia, and to Canada as a whole," said Maxim Mihik, general manager of "DP World - Canada".