Gulftainer wins US port concession

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Gulftainer's subsidiary GT USA has signed an agreement on terms with the State of Delaware, USA, which would grant GT USA exclusive rights to operate and develop the Port of Wilmington, a deep-water port located at the confluence of the Christina River in the north of the state, for 50 years.

Terms of the agreement are to be formally approved by Diamond State Port Corporation Board and the Delaware General Assembly within the next month, followed by the formal review by the Committee for Foreign Investment in the United States (CFIUS).

The concession includes the full management and development of the Port’s existing container volumes of 350,000 TEUs per year, which is forecasted to more than double in the years to come as a consequence of this deal.

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