Expansion in South America

Dubai based terminal operator DP World Limited announced that it has expanded its portfolio to Suriname on the northeast coast of South America, acquiring a controlling interest in both Integra Port Services (‘IPS’), holding a concession for a container and break-bulk terminal within Nieuwe Haven Port, Paramaribo; and in Suriname Port Services (‘SPS’), which owns a private break-bulk facility 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 as growth in the local economy, together with improved road links into French Guiana and off-shore oil exploration are set to increase trade volumes in the future.
Suriname Port Services is a freehold break-bulk facility about 20 miles upstream from Paramaribo specializing in the handling of mining and logging equipment, off-shore supply and cement. DP World will have a management services agreement for both terminals.
The transaction is expected to close in the third quarter of 2011.