Sharjah Update Sharjah business & Investment News from Invest in Sharjah (Sharjah FDI Office)
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Port Canaveral this week signed a 35-year agreement with GT USA, the US business of Sharjah-headquartered port operator Gulftainer, to manage the port’s new container and multipurpose sea cargo terminal. Port Canaveral is a cruise, cargo and naval port in Brevard County, Florida, United States, south of Cape Canaveral Air Force Station and the Kennedy Space Center.
The Port Canaveral agreement marks Gulftainer’s expansion into the United States and a milestone towards the company’s vision of operating 35 terminals in five continents by the year 2020. Gulftainer already has port management contracts in Brazil, Russia and the Middle East, with a corporate presence across Africa, Europe, Asia, and the Americas.
Commencing operations in the last quarter of 2014, Port Canaveral’s new container and multi-purpose cargo terminal, will position the port as the most economical and convenient seaport for containerised cargo in central Florida. By developing the new facility, Gulftainer aims to increase the port’s container business from a few hundred TEUs (20-foot equivalent units) per year to 700,000 TEUs per year.
The new terminal is expected to contribute more than US$630 million to the local Port Canaveral economy and create up to 500 new jobs. Meanwhile, Gulftainer is expected to invest up to US$100 million in equipment and personnel to operate the terminal.
Both Gulftainer and GT USA are wholly-owned subsidiaries of Sharjah-based Crescent Enterprises.
Source: Gulftainer, news media
