The subsidiary of Gulftainer, the world’s largest privately owned independent port operator and logistics company based in the United Arab Emirates, signed a 50-year concession agreement on Sept. 18 to operate and expand the port.
“This is an exciting moment for the partnership GT USA has forged with the state of Delaware, the local community and port employees to work together to transform the Port of Wilmington into the principal gateway of the Eastern Seaboard,” said Peter Richards, Group CEO of Gulftainer.
Plans for the port include development of all cargo terminal capabilities and enhancement of its overall productivity. GT USA Wilmington also will establish a training facility at the development site specifically for the ports and logistics industries that is expected to train up to 1,000 people a year.
As part of the concession agreement, Gulftainer will invest $600 million in the port, including $400 million on a new 1.2 million-TEU (container facility at DuPont’s former Edgemoor site, which was acquired by the Diamond State Port Corp. in 2016.
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The Signal at Chattanooga Choo Choo • Chattanooga, TN Register NowThe night before F3. FreightTech100 companies honored. FreightTech 25 and Shipper of Choice winners revealed live. Cocktail reception into dinner and live music - 300 industry leaders in one purpose-built room.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register NowIndustry-defining keynotes, rapid-fire technology demos, and industry leaders networking in experiences across Chattanooga - plus the inaugural F3 Awards Dinner featuring the FreightTech and Shipper of Choice reveals.
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