GT USA, a division of Gulftainer, is investing $600 million to turn the port into one of the largest gateways on the East Coast under 50-year concession agreement Delaware secretary of state joins GT USA and port employees in celebrating partnership

WILMINGTON, Del. - The Port of Wilmington ushered in a new era of business today as GT USA Wilmington became the new operators of the deep-water port and marine terminal that has served shipping lines since 1923.

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, 2018 to operate and expand the Port of Wilmington.

“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. Richards was joined by Delaware Secretary of State Jeffrey W. Bullock and employees at a ceremony that included raising the GT USA flag alongside the state and official port flags.

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 and upskill up to 1,000 people a year.

“The Port of Wilmington marks a milestone for Gulftainer, which is focused on identifying opportunities at U.S. ports with great potential for growth in the global marketplace, building on our entry in North America as the container terminal operator at Port Canaveral in Florida,” Richards said.

As part of the concession agreement, Gulftainer will invest $600 million in the port, including $400 million on a new 1.2 million TEU (twenty-foot equivalent units) container facility at DuPont’s former Edgemoor site, which was acquired by the Diamond State Port Corporation in 2016.

Strategically located on 308 acres at the confluence of the Delaware and Christina rivers, the Port of Wilmington is the top North American port for fresh fruit imports into the United States and has the largest dockside cold storage facility in the nation.