Dubai: DP World announced on Thursday it has an agreement to buy Maher Terminals’ Fairview Container Terminal in Prince Rupert, British Columbia, Canada from Deutsche Bank for C$580m ($458m).
Fairview is a purpose-built terminal with an efficient sea-rail link and a current capacity of 850,000 teu, which should increase to 1.35m teu after a recently-announced Phase 2 expansion.
Dubai-based DP World, which already operates the Centerm terminal in Port Metro Vancouver, is one of the biggest marine terminal operators in the world with a portfolio of more than 65 terminals.
With the Fairview acquisition it will add capacity and efficiency to Canada’s Asia-Pacific gateway and corridor.
DP World group CEO Mohammed Sharaf said: “Fairview Container Terminal offers the fastest access for vessels traveling between Asia and North America. The terminal also offers the highest productivity rates on the West Coast and an efficient rail link to the hinterland. The long-term concession and ability to build beyond the current phase 2 of expansion presents a fantastic opportunity for DP World.”