Gulftainer Cleared to Operate US Port

Gulftainer has been accepted by the US state of Delaware regarding a proposal to privatize the Port of Wilmington.

As the deal has been accepted on federal level, the impetus now lies with the board of executives of the port.

The plan brings ties between Middle Eastern operators and US ports much closer, after years of being blocked from uniting on such operations due to political circumstances.

As well as operating the port, Gulftainer reportedly intends to launch a new container terminal at the site.

Collectively, Gulftainer would need to invest around $1 billion US dollars in order to fund the move and construct the new terminal.

Gulftainer was originally accepted to run a concession for the Port of Wilmington for 50 years, however, now it has federal approval, the move can become official.

Gulftainer remains one of the largest privately owned port operators in the world.

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