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DP World, Canada Fund to Invest $4.5 Billion in Port Venture (1)

Sept. 3, 2020, 8:22 AM

DP World and Caisse de Depot et Placement du Quebec have agreed to invest an additional $4.5 billion in their global portfolio of port terminals.

The Dubai-based ports operator and Canadian pension fund manager announced the injection of the funds into their existing venture in a statement Thursday, confirming an earlier Bloomberg News report.

DP World and the Caisse agreed in 2016 to set up a platform for investing in ports around the world. An initial investment target of $3.7 billion has been hit, they said, with the portfolio holding ports across North America, Latin America and Asia Pacific.

The ...