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FINANCIAL NEWS
UAE’s DP World expands its South America investments
21 Jul 2011
(MENAFN) DP World’s chief executive, Mohammad Sharaf, said that as the company planned to expand its South America investments, DP World purchased controlling stakes in Integra Port Services (IPS) and Suriname Port Services (SPS), reported The National.
Sharaf added that the Surinamese acquisitions, which would be completed in this year’s third quarter, would permit the company to run cargo terminal facilities at the port of Nieuwe Haven.
He also said that the transaction would be forecasted to increase the company’s annual revenues by USD9.2 million, out of total projected revenue of USD2.9 billion.
It is worth noting that Nieuwe Haven terminal manages origin and destination cargo for Suriname. At the time being, it handles more than 100,000 standard containers every year, and it will be able to double capacity as a result of growing demand.
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