Gulftainer to Invest $3 Billion in Capacity Expansion
Gulftainer is prepared to invest US$3 billion to double its container capacity and acquire assets, according to reports.
Reports are stating that Gulftainer has an aim to hit 10 million TEU, thus become a major worldwide player.
Gulftainer recently made global headlines after announcing a buyout of the US Port of Wilmington.
The buyout signalled a new era in port operations and US-Middle East relations after Middle East operators were restricted on operating US ports.
Peter Richards, CEO of Gulftainer, said: “We should not to be restricted to TEU and containers because a lot of the entities that we’re looking at now are not just containers but a lot of them are break bulk and general cargoes.
"We hope to continue our growth in the US market and at the same time we are looking at east and west Africa, and we are looking at Asia.”