DP World and Caisse de dépôt et placement du Québec (CDPQ) have announced the expansion of their ports and terminals investment platform through a new commitment of $4.5bn, increasing the total size of the platform to $8.2bn. DP World holds 55% share of the platform, and CDPQ the remaining 45%.
According to the company, since its launch in December 2016, the platform has invested in 10 port terminals globally and across various stages of the asset life cycle. DP World said the enhanced platform will continue to target assets globally, but with an increased scope to broaden its footprint in new and existing geographies, such as Europe and Asia Pacific. The investment platform will also pursue its deployment and diversification objectives by expanding across a wider part of the integrated marine supply chain, such as logistics services linked to terminals.
Sultan Ahmed Bin Sulayem, Group Chairman and CEO, DP World, said, “The partnership between DP World and CDPQ has been very successful, and we have benefited from each other’s expertise. The opportunity landscape for the port and logistics industry is significant and the outlook remains positive as consumer demand triggers major shifts across the global supply chain. Best-in-class well connected ports and efficient supply chains will continue to play an active role in advancing global trade and cultivating the business environments closest to their operations. Alongside CDPQ, a steadfast partner whose long-term vision we share, we look forward to working together on new investments that will connect key international trade locations worldwide.”
Emmanuel Jaclot, Executive Vice-President and Head of Infrastructure at CDPQ, said, “Building on the success of the first collaboration with our strategic partner, DP World, a world-class leader in ports and marine terminals, the enhanced platform will seek investments in high-quality port and terminal infrastructure assets that will help design the future of smart trade and logistics. As we take the next step in our partnership, we will further diversify our geographic reach and look to seize new opportunities in a sector that, even during a uniquely challenging period, is driven by long-term fundamental trends.”
Source: DP World
