(Wilmington, DE) -- Plans to privatize the Port of Wilmington have been finalized. Governor Carney today signed a 50-year agreement with a U.S. subsidiary of Dubai-based Gulftainer. Over the next ten years, royalty payments made by GT USA Wilmington, LLC are expected to net the State of Delaware mourned 13-million dollars. The company will also invest 600-million dollars in upgrades and build a new container-handling terminal.
Source: 24/7 News