Thursday 20, September 2018 by Kudakwashe

Gulftainer signs deal to operate US Port of Wilmington

 

The Port of Wilmington is the largest ever operation by a UAE-based company in the US.

The UAE-based Gulftainer has expanded its global footprint and reach by signing a 50-year, $600 million deal with the State of Delaware in the US to operate and develop the Port of Wilmington.

In a statement, the firm stated that the $600 million will be channelled towards the upgrading and expanding of the terminal as well as to turn the port into one of the largest facilities Eastern Seaboard.

Badr Jafar, Chairman of Gulftainer’s Executive Board, said that the company is confident that the public-private partnership will propel the Port of Wilmington towards becoming the principal gateway of the Eastern Seaboard.

Features & Analyses

Economics Adapting to a new era

  Abdullah Al-Fozan, Chairman of KPMG MESA and KPMG Saudi Arabia, provides an exclusive commentary on the Kingdom’s business… read more