Caisse completes purchase of B.C. docks
BY Staff | February 25, 2020
The Caisse de dépôt et placement du Québec World, through its investment in DP World, has completed the purchase of Fraser Surrey Docks.
The closing of the deal, which was first announced last spring, means the Canadian marine terminal is now officially part of one of the world’s largest port operators.
“This new addition to DP World’s portfolio provides unique prospects for additional growth in the dynamic Canadian business environment,” said Matt Leech, chief executive officer and managing director of DP World Americas, in a press release. “We look forward to helping Fraser Surrey reach its full potential and generating greater value over the long term for DP World and its customers.”
Fraser Surrey Docks was founded in the early 1960s and has become the largest modern and multi-purpose terminal on the West Coast of North America, according to the release. DP World, with headquarters in Dubai, now operates 10 ports and terminals around the globe, including in Australia, Canada, Chile and the Dominican Republic.