FINANCIAL NEWS

Emirati DP World to purchase Canada’s USD457m Fairview terminal

02 Apr 2015

(MENAFN) Dubai-based DP World, one of the largest marine terminal operators in the world, is set to purchase the USD457 million Canada’s Fairview Container Terminal, according to the Emirati firm, Reuters reported.

The terminal, which is situated in Prince Rupert in British Columbia, enjoys a capacity of around 850,000 twenty-foot equivalent unit (TEU). However, an upcoming expansion will increase its capacity to 1.35 million.

The Dubai firm forecasts that the completion of the deal will take place in the second half of this year. The purchase is founded on debt-free basis and the transaction is submitted under the Canadian regulatory approval.

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