Dubai-based port and terminal operator DP World and Canada’s insitutional investor Caisse de dépôt et placement du Québec (CDPQ) expand their ports and terminals in a new commitment of $4.5 billion.
Spefically, DP World is responsible for the 55% share of the platform, while CDPQ holds the 45%.
The improved platform will targets assets globally, with the aim to broaden its footprint in new and existing geographies, such as Europe and Asia Pacific. The investment platform will pursue its deployment and diversification objectives by expanding across a wider part of the integrated marine supply chain, such as logistics services linked to terminals.
It is added that despite the COVID-19 pandemic, the port remained resilient and boosted its logistics capabilities based on automation and digital technology
In the first half of 2020, the port operator reported a profit attributable to owners of $313 million, a decrease of 58.5 per cent from $753 million seen in the corresponding period a year earlier.
Referring to the partnership, Sultan Ahmed Bin Sulayem, Group Chairman and CEO, DP World noted that
The opportunity landscape for the port and logistics industry is significant and the outlook remains positive as consumer demand triggers major shifts across the global supply chain.
