Born in Guyana, RAYMOND CHICKRIE was a teacher in the New York City public school system, New York, currently teaching in the Middle East.
Dubai invests in Suriname
- By Raymond Chickrie
- Published 07/28/2011
DUBAI, July 20 (Reuters) - Port operator DP World has bought controlling interest in two port services companies in Suriname, cashing in on an expected increase rise in trade volumes in the South American country, the company said in a statement on Wednesday.
DP World did not disclose the financial terms for the acquisition of controlling stakes in Integra Port Services (IPS) and Suriname Port Services (SPS), but said it expects to close the transactions in the third quarter.
IPS holds a concession for a container and break-bulk terminal in Nieuwe Haven Port, while SPS owns a private break-bulk facility, both in Paramaribo. IPS is the largest terminal in Nieuwe Haven Port, the statement said.
DP World said it will have a management services agreement for both terminals.
State-owned conglomerate Dubai World owns 80 percent of the port operator, which is considered one of its more profitable assets and began trading on the London Stock Exchange last month. (Reporting by Shaheen Pasha, Editing by Dinesh Nair)