DP World’s JV puts pen to paper for Montreal port expansion: The Montreal Port Authority (MPA) and DP World Canada signed a joint development agreement covering the design and construction of land works at the planned container terminal in Canada’s Contrecœur, according to a statement. DP World will build the terminal yard, buildings, utilities, and rail link, and operate the facility for 40 years once completed.

What’s next? MPA and DP World Canada will work on finalizing the design and the operation contract within the next months. Site prep for construction will start before the end of this year, with the project to be ready for operation by 2030.

We had an idea this was in the works: DP World was reported to be in advanced talks to take control of the USD 1.2 bn project, which is set to feature two berths, a 1.2 mn TEU container yard, and an intermodal link. The expansion is expected to raise Montreal’s handling capacity by over 50% to 2.1 mn TEUs annually.

REMEMBER- The project matters a lot to Canada: Expanding Montréal Port’s capacity is critical to Canada’s supply chain resilience amid trade volatility with the US. Without expansion, the port could quickly reach its full handling capacity if only 6% of US-bound exports are diverted elsewhere. Expanding port infrastructure in Eastern Canada would therefore help the country stay ahead of future congestion while cutting costs for regional businesses — which would otherwise have to transport their goods to be handled elsewhere.

The Contrecœur terminal will be DP World’s sixth port facility in its Canada portfolio, which also includes assets in Vancouver, Nanaimo, Prince Rupert, and Fraser Surrey. The company operates in Canada through its JV — DP World Canada — in which Canadian investment group Caisse de Dépôt et Placement du Québec holds a 45% stake, with DP World retaining the remaining shares.

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