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UAE global port operators take control of two terminals in Suriname

Monday, July 25th 2011 - 21:44 UTC
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DP World CEO, Mohammed Sharaf wants to expand into South America DP World CEO, Mohammed Sharaf wants to expand into South America

Global Marine terminal operator DP World Limited announced that it has expanded its portfolio to former Dutch colony Suriname on the northeast coast of South America, acquiring a controlling interest in both Integra Port Services (‘IPS’) and in Suriname Port Services (‘SPS’).

Nieuwe Haven terminal handles origin and destination cargo for Suriname. The terminal currently has a container throughput capacity in excess of 100,000 TEU per year, with the potential to double its capacity to meet demand as growth in the local economy, together with improved road links into French Guiana and off-shore oil exploration are set to increase trade volumes in the future.

In April 2010, IPS was awarded a 15 year concession, with an option to extend for a further 15 years, to manage and operate its terminal within Nieuwe Haven. IPS is the largest terminal operator at the port.

Suriname Port Services is a freehold break-bulk facility about 20 miles upstream from Paramaribo specializing in the handling of mining and logging equipment, off-shore supply and cement.

DP World will have a management services agreement for both terminals. The transaction is expected to close in the third quarter of 2011. The price was not disclosed.

DP World CEO, Mohammed Sharaf said the company was pleased to add ports in Suriname to its global portfolio “underpinning our strategy of expansion into the faster growing markets of South America. We very much look forward to working alongside our new partners at both IPS and SPS to further grow the operations and to serve our customers in the region”.

Matthew Leech, DP Senior Vice President and Managing Director of Americas said the terminals are well placed to handle all cargo into Suriname today but importantly “they have the potential to expand in line with future demand as trade continues to grow, underpinned by Suriname’s diversified natural resources sector, including oil, gold, bauxite, agriculture, and forestry”.

DP World from the United Arab Emirates is one of the largest marine terminal operators in the world, with 49 terminals and 9 new developments and major expansions across 31 countries. The company which employs 30.000 people worldwide has built its prestige at its flagship Jebel Ali facility in Dubai, which has been voted “Best Seaport in the Middle East” for 16 consecutive years.

In 2010, DP World handled nearly 50 million TEU (twenty-foot equivalent container units) across its portfolio from the Americas to Asia. With a pipeline of expansion and development projects in key growth markets, including India, China and the Middle East, capacity is expected to rise to around 95 million TEU by 2020, in line with market demand.

Categories: Investments, Latin America.

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