DP World announced that it has reached a deal with Deutsche Bank to acquire the Fairview Container Terminal, located at the Port of Prince Rupert, Canada, for C$580m.
The port company stated that the deal represents a growth opportunity in a market with attractive and growing demand. Fairview is a purpose built terminal with an efficient sea-rail link and has a current capacity of 850,000 TEU, with a plan for phase 2 expansion that will take capacity to 1.35m TEU.
Sultan Ahmed Bin Sulayem, Chairman, DP World said, “We are delighted to extend our global footprint with a second terminal in Canada. The value proposition is compelling and the addition of capacity to our portfolio will contribute to DP World’s continued growth and the delivery of shareholder value.”
