US government approves Gulftainer’s Delaware port concession

Subscribe to our newsletter and get the latest news and business opportunities in your inbox

The US government has approved the awarding of the concession to operate the Port of Wilmington, in Delaware, to Gulftainer, an independent port operator headquartered in the United Arab Emirates (UAE). The company's US subsidiary was awarded a 50-year concession to take control of the deep-water port, located at the confluence of the Christina River in the north of Delaware, by the state government in April this year.

Gulftainer plans to invest US$73 million into the existing port through the next decade to modernise operations. The concession agreement gives GT USA full management and development responsibility of the Port’s existing container volumes of 350,000 TEUs per year. The state will continue to own the land under the port.

The award also gives Gulftainer permission to develop a new container port on nearby state-owned land that used to house a chemical production facility. The 114-acre was acquired by the state government in 2016. Gulftainer expects to invest US$400 million in the new facility.

Share this update