Doha: Gulftainer, a subsidiary of Crescent Enterprises and one of the world’s largest privately owned port management and logistics companies, marked its expansion into the USA, as part of its strategic vision to operate 35 terminals in five continents by 2020.
Gulftainer secured a 35-year concession from Port Canaveral in Florida State to operate and further develop its container and multi-purpose cargo terminal.
The deal was signed by and between John Walsh, CEO of Canaveral Port, and Badr
Jafar, CEO of Crescent Enterprises and Chairman
of Gulftainer’s Executive Board, at a ceremony held at Canaveral Port in the presence of 120
officials from the port and
Florida State.
Also in attendance was Michael Corbin, Ambassador of the USA to the UAE, and Saud Al Nowais, Commercial Counsellor from the UAE Embassy in Washington.
The terminal, set to commence operations in the fourth quarter of 2014, positions Port Canaveral as the most economical and convenient ocean gateway for containerised cargo in central Florida.
Under the terms of the agreement, Gulftainer will strengthen the terminal through a $100m investment in infrastructure, equipment and locally-sourced human capital.
The new container and cargo terminal is expected to contribute more than $630m to Florida’s economy, $280m in revenue to Port Canaveral, and generate more than $350m in tax contributions.
The Peninsula
