Dubai: DP World has completed acquisition of a 51 percent stake in TIS Container Terminal in Ukraine's Yuzhny port. This follows regulatory approval from the relevant government authorities.
This project will be DP World's second partnership with TIS, the first being P&O Maritime Ukraine, which provides harbour towage services at the principal Black Sea ports in Ukraine.
DP World's global strategy is to become a "trade enabler and solutions provider" as it looks to participate across a wider part of the supply chain. "The aim is to connect directly with customers to offer logistics solutions and remove inefficiencies in the supply chain to accelerate trade," the company said in a statement.
This acquisition will expand DP World's operations as well as strengthen TIS Container Terminal as one of the key purpose-built terminals in Ukraine.
It will also make "Ukraine's trade more resilient" and gives DP World the potential to offer a unique "Black Sea product by linking its terminals in Constanta and Yarimca with TIS Container Terminal using its unifeeder network".