DP World buys into two South American ports

Dubai state-backed ports giant buys controlling interest in two terminals in Suriname
DP World buys into two South American ports
By Ed Attwood
Wed 20 Jul 2011 11:24 AM

DP World has bought controlling interests in two ports based in Suriname, a state on the north-east coast of South America.

The Dubai terminals giant, the third-largest in the world by volumes, acquired a controlling stake in Integra Port Services (IPS), a firm that last year won a 15-year concession to operate a container and break-bulk terminal in Nieuwe Haven Port, Paramaribo.

The IPS terminal has container throughput capacity in excess of 100,000 twenty-foot equivalent units (TEU) and could potentially double its capacity in the near future, DP World said in a company statement Wednesday.

The Dubai firm also bought a majority stake in Suriname Port Services (SPS), a company that runs a private break-bulk facility about 20 miles upstream of Paramaribo, which specialises in the handling of mining and logging, offshore supply and cement.

DP World did not disclose the value of either deal, but said that the transactions were expected to close in the third quarter.

Elsewhere in Latin America, the company operates terminals in Buenos Aires, Peru and the Dominican Republic. Another terminal is currently under development in Santos, Brazil.

During the first quarter, DP World saw gross volumes rise by 12 percent to 12.6m TEU, and in June, the firm listed on the London Stock Exchange 

For all the latest transport news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.

Subscribe to our Newsletter

Subscribe to Arabian Business' newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.