DP World has agreed to acquire a majority 51% stake in the TIS Container Terminal in the Port of Yuzhny, Ukraine, subject to the satisfaction of certain conditions, including regulatory approval.
The Dubai based company says the acquisition complements the existing operations of DP World’s P&O Maritime Services business through a joint venture with TIS Group, providing tugging, pilotage and other marine services in several Ukrainian ports.
The Ukrainian container market grew over 20% in 2019, and TIS Container Terminal has one of the most efficient railway connections in the region to major Ukrainian cities, supporting trade flows to the hinterland, DP World statement says.
Sultan Ahmed Bin Sulayem, Group Chairman and CEO of DP World, said: “Our goal is to build the industry’s leading data-driven supply chain solutions through our global portfolio, creating opportunities for our customers to realise game-changing value and accelerate their cargo deployments.”
