The legislature of the US state of Delaware has agreed to privatise the Port of Wilmington and grant a 50-year lease to UAE-based Gulftainer.
Ports management company Gulftainer will develop a new container terminal on adjacent land.
The port will receive at least $6m per year in royalties and Gulftainer says it will aim to double the port’s teu volume and increase its non-containerised cargo by 75%.
Some politicians are wary of the deal, with Republican congressman of California, Duncan Hunter calling on the administration to examine it over”national security” concerns. Hunter is chair of the House Subcommittee on Coast Guard and Maritime Transportation.