DP World has signed a long-term lease agreement for the expansion and operation of the multi-purpose Rodney Container Terminal at Saint John, New Brunswick, Canada.
Under the terms of the deal starting in January next year, DP World will take over the day-to-day operations of the terminal and will work with the Saint John Port Authority on an expansion program to create a 350-meter deep water berth, an enhanced stacking area, and an intermodal rail yard with 3,650 meters of track. The expansion program is expected to be completed in 2021, with the lease continuing for 30 years after.
Sultan Ahmed Bin Sulayem, Group Chairman and CEO, DP World, said: “We are delighted to further extend our presence in Canada to the Port of Saint John, New Brunswick. We believe that the future growth prospects for the port are strong and we are excited to be participating with Saint John Port Authority in their expansion plans. Our investments and commitment to Canada are for the long term, contributing to trade and the development of its national and local economies as well as providing employment for people with a leader of world trade. Our international experience and expertise will be further enhanced with this project.”
Jim Quinn, CEO, Saint John Port Authority, said: “We are delighted to welcome DP World as the new operator of Rodney Container Terminal and to share in the expansion project for the terminal. The commitments that DP World has made to invest in equipment and systems, commercial promotion and sustainability are critical for the long-term success of the project.”