Gulftainer Signs 50-year Lease for Port of Wilmington
Gulftainer, the world’s largest privately-owned independent port operator and logistics company based in the United Arab Emirates, finalized a 50-year concession agreement with the state of Delaware to operate and develop the Port of Wilmington, significantly expanding the company’s global footprint and reach.The agreement, signed by Gulftainer’s subsidiary GT USA, will see an expected investment of up to $600 million in the port to upgrade and expand the terminal and to turn it into one of the largest facilities of its kind on the Eastern Seaboard.The port deal represents the largest operation ever run by a UAE company in the United States, as well as the largest investment ever by a private UAE company in the country.At a public signing ceremony held in Wilmington, Gov.
UAE Cargo Handler Tests Florida Waters
Sharjah-based ports operator Gulftainer has opened Canaveral Cargo Terminal at Port Canaveral in Florida in the US for business. Gulftainer, a subsidiary of UAE-based conglomerate Crescent Enterprises, said the opening comes one year after Canaveral Port Authority signed a 35-year agreement with GT USA, the US arm of Gulftainer, to operate and further develop the container and multipurpose cargo terminal. The opening comes one year after Canaveral Port Authority signed a 35-year agreement with GT USA, the US arm of UAE-based global ports and logistics company Gulftainer, to operate and further develop the container and multipurpose cargo terminal.
Mideast Firm to Operate Cargo Terminal at Port Canaveral
A Middle Eastern-owned company landed its first North American port operations contract on Monday, a 35-year agreement with Port Canaveral on Florida's east coast. Under terms of the lease, Gulftainer, a wholly-owned subsidiary of United Arab Emirates-based Crescent Enterprises, will invest up to $100 million in equipment and employees to operate a container and cargo terminal under construction at Port Canaveral, just south of Cape Canaveral Air Force Station and Kennedy Space Center. "Our intent is to reach up into that southeast manufacturing belt and into the traditional heartland markets for distribution and logistics," Port Canaveral Chief Executive John Walsh said at a signing ceremony.
