DP World expands into Suriname in South America

DUBAI -- Dubai Ports World said today it has bought controlling stakes in two seaport companies in Suriname on the northeast coast of South America, extending its presence in South America.

By (Wam)

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Published: Wed 20 Jul 2011, 6:49 PM

Last updated: Thu 2 Apr 2015, 5:57 AM

It added it has acquired an interest in Integra Port Services, which controls rights for a cargo terminal in the capital Paramaribo’s Nieuwe Haven Port.

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.

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.

The transaction is expected to close in the third quarter of 2011.

Mohammed Saharf, Executive Director of DP World, two Americas, expressed his pleasure about the acquisition of the two terminals in Suriname, describing the move as part of the strategic expansion plan in South America.

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