October 26, 2026 – Dubai's DP World Ltd. is preparing to announce a deal that could support the development of Canada's port in Churchill, a remote area that Prime Minister Mark Carney wants to grow for exports to Europe and other regions.
The global port operator has signed a memorandum of understanding with two Canadian groups, including Arctic Gateway Group, which owns and operates the Churchill port and a related railway, according to sources who wished to remain anonymous.
This agreement will focus on port operations and the creation of a transportation corridor connecting Churchill to DP World’s worldwide logistics network and inland port facilities managed by CentrePort Canada Inc.
Located in the northern part of Manitoba, Churchill is a small town on Hudson Bay, which flows into the Atlantic Ocean via Arctic routes. Its strategic position suggests it could become a key shipping point for Canadian resources like liquefied natural gas, grain, potash, and important minerals to customers in the Middle East and Europe.
However, achieving this vision will require tens of billions of dollars in investments.
Canada and the UAE have been strengthening their economic relationship since Carney took office last year, aiming to enhance trade and investment links globally amid ongoing trade tensions triggered by US President Donald Trump's actions.
Sheikh Khaled bin Mohamed Al Nahyan, the Crown Prince of Abu Dhabi, is scheduled to visit Ottawa on Monday and Tuesday, as announced by Carney’s office. Last year, the UAE pledged to invest C$70 billion (about $49.9 billion) in Canada.
Carney’s office stated, “As the world undergoes significant transformation, Canada and the UAE are committed to strengthening their partnership for greater economic resilience, shared security, and prosperity for both nations.”
Canadian Energy Minister Tim Hodgson mentioned to Bloomberg News that Churchill has "tremendous potential" to become a major export hub. Although the bay is frozen most of the year, he noted that it could be accessible for longer shipping seasons with the help of icebreakers. Canada agreed to acquire new ice-breaking vessels in August.
Discussions regarding the port gained momentum during meetings in September between UAE officials and Manitoba Premier Wab Kinew during the Canada Investment Summit held in Toronto.
A prospectus provided by the Canadian government indicated that a significant expansion of Churchill and its related infrastructure could cost around $57 billion, with initial investment requests amounting to $3.9 billion. The document outlined a plan to transform Churchill into a year-round trade hub through an LNG export corridor, rail upgrades, port improvements, and all-weather road access.
DP World already holds considerable interests in Canada, operating the container port in Prince Rupert on the west coast and winning a contract last year for a new terminal near Montreal.
Additionally, one of Canada's largest pension funds, the Caisse de Dépôt et Placement du Québec, is a major equity investor in DP World's Canadian operations.