A Canadian pension manager has agreed to invest $5bn into DP World’s Jebel Ali port and two nearby industrial zones.
Under the agreement, Caisse de Depot et Placement du Quebec (CDPQ) will invest $2.5bn in the port as well as the Jebel Ali Free Zone and National Industries Park.
It is doing the deal through a new joint venture in which it will hold a stake of about 22%, with the remainder of the transaction being financed by debt.
