Governor John Carney, the Diamond State Port Corporation and GT USA Wilmington, LLC have finalized a major agreement to significantly expand the Port of Wilmington, last Tuesday.
Previously this year, Governor Carney announced an agreement with Gulftainer to lease the Port of Wilmington from the State of Delaware and construct a new container shipping facility on the Delaware River.
“This historic agreement will result in significant new investment in the Port of Wilmington, which has long been one of Delaware’s most important industrial job centers,” said Governor Carney. [see video]
According to the agreement, UAE-based Gulftainer’s subsidiary GT USA Wilmington, LLC will make annual royalty payments to the State of Delaware, totaling $13 million over the next decade.
The company plans to invest up to $600 million in the Port over the next decade, including approximately $410 million for a new container facility at DuPont’s former Edgemoor site, acquired by the Diamond State Port Corporation in 2016 that is projected to create thousands of new jobs.
“We are confident that this public-private partnership will propel the Port of Wilmington towards becoming the principal gateway of the Eastern Seaboard”, said Badr Jafar, Chairman of Gulftainer’s Executive Board.