DP World expands into Suriname, South America

New aquisition underpins strategy of South American expansion.
DP World CEO, Mohammed Sharaf
DP World CEO, Mohammed Sharaf

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Global Marine terminal operator DP World announced today that it has expanded its portfolio to Suriname on the northeast coast of South America.

The firm has acquired a controlling interest in both Integra Port Services (‘IPS’), the Company holding a concession for a container and break-bulk terminal within Nieuwe Haven Port, Paramaribo; and in Suriname Port Services (‘SPS’), the company that owns a private break-bulk facility upstream from Paramaribo.

DP World CEO, Mohammed Sharaf, commented: “We are very pleased to be adding ports in Suriname to our global portfolio underpinning our strategy of expansion into the faster growing markets of South America.”

Nieuwe Haven terminal handles origin and destination cargo for Suriname and currently facilitates a container throughput capacity in excess of 100,000 TEU per year.

It has 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.

In April 2010, IPS was awarded a 15 year concession, with an option to extend for a further 15 years, to manage and operate its terminal within Nieuwe Haven. IPS is the largest terminal operator at the port.

Suriname Port Services is a freehold break-bulk facility about 20 miles upstream from Paramaribo specialising 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, with the price remaining undisclosed.

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