Gulftainer, a Sharjah-based ports operator and part of UAE conglomerate Crescent Enterprises, said its subsidiary GT USA has won exclusive rights to operate and develop a port in the US State of Delaware, subject to approvals.
Gulftainer plans to invest $580 million in the port over the next nine years, it said in a statement. The investment includes approximately $410m for a new 1.2 million twenty-foot equivalent unit (TEU) container facility at US energy firm DuPont’s former Edgemoor site, which was acquired by the Diamond State Port Corporation in 2016. The company also plans to develop all the cargo terminals and enhance productivity of the port.
John Carney, the Governor of Delaware, in a statement to media, “This massive infrastructure upgrade will have a knock-on effect to the logistics sector of the entire East coast.”
Founded in 1976 Gulftainer is the second largest ports operator in the UAE after Dubai-based DP World. The company operates 8 terminals in the Middle East with facilities in Iraq, Brazil, Russia, Lebanon and Saudi Arabia.
