DP World expands in South America
DP World has expanded its portfolio to Suriname on the northeast coast of South America, acquiring a controlling interest in Integra Port Services (IPS) and Suriname Port Services (SPS).
IPS holds a concession for a container and breakbulk terminal within Nieuwe Haven Port, Paramaribo, while SPS owns a private breakbulk facility about twenty miles upstream from Paramaribo.
Nieuwe Haven terminal handles origin and destination cargo for Suriname. The terminal currently has a container throughput capacity in excess of 100,000 TEU per year, with the potential to double its capacity to meet demand due to improved road links into French Guiana and anticipated growth in off-shore oil exploration.
In April 2010, IPS was awarded a fifteen-year concession, with an option to extend for another fifteen years, to manage and operate its terminal within Nieuwe Haven.
DP World will have a management services agreement for both terminals.
The transaction is expected to close in the third quarter of 2011.
DP World operates 49 terminals with nine new developments and major expansions in 31 countries.
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