At noon on Tuesday, September 18, Governor Carney, the Diamond State Port Corporation and GT USA Wilmington, LLC will finalize the concession agreement to lease and significantly expand the Port of Wilmington. In March, Governor Carney announced the agreement with Gulftainer to lease the Port of Wilmington from the State, construct a new container shipping facility on the Delaware River, and significantly expand jobs at the Port over the next decade.
Under terms of the agreement, Gulftainer’s subsidiary GT USA Wilmington, LLC will make annual royalty payments to the State of Delaware reaching an estimated $13 million over the next decade. The company also plans to invest up to $600 million in the Port over the next nine years, including approximately $410 million for a new container facility at DuPont’s former Edgemoor site, which was acquired by the Diamond State Port Corporation (DSPC) in 2016.
“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. “For decades, jobs at the Port have helped stabilize Delaware families and the communities where they live. We look forward to making this agreement official on Tuesday, and I want to thank members of the General Assembly, the Diamond State Port Corporation, Gulftainer, and all of our partners who have helped make this agreement a reality.”
Read the article on news.delaware.gov.
