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Sunday, October 23, 2016

UAE Firm May Oversee 6 U.S. Ports

February 14, 2006

The AP has reported that a company in the United Arab Emirates is poised to take over significant operations at six American ports as part of a corporate sale, leaving a country with ties to the Sept. 11, 2001, hijackers with influence over a maritime industry considered vulnerable to terrorism. The Bush administration considers the UAE an important ally in the fight against terrorism since the suicide hijackings and is not objecting to Dubai Ports World's purchase of London-based Peninsular and Oriental Steam Navigation Co. The $6.8 billion sale could be approved Monday and would affect commercial port operations in New York, New Jersey, Baltimore, New Orleans, Miami and Philadelphia. DP World said it won approval from a secretive U.S. government panel that considers security risks of foreign companies buying or investing in American industry. The U.S. Committee on Foreign Investment which could have recommended that President Bush block the purchase, includes representatives from the departments of Treasury, Defense, Justice, Commerce, State and Homeland Security. The committee action followed concerns expressed by a Miami-based company, Eller & Co., according to Eller's lawyer, Michael Kreitzer. Eller is a business partner with the British shipping giant but was not in the running to buy the ports company. The State Department describes the UAE as a vital partner in the fight against terrorism. But the UAE, a loose federation of seven emirates on the Saudi peninsula, was an important operational and financial base for the hijackers who carried out the attacks against the World Trade Center and the Pentagon, the FBI concluded. source: Washington Post

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