The agreement lays out a plan to construct a new container shipping facility on the Delaware River, create jobs and bring $600 million in new investment over the next decade.
“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,” Carney said. “For decades, jobs at the Port have helped stabilize Delaware families and the communities where they live.”
Under the terms of the agreement, GT USA Wilmington will make annual royalty payments to the State of Delaware, totaling $13 million over the next 10 years. The company has also committed to investing $410 million into a new container facility at DuPont’s former Edgemoor site. Diamond State Port Corporation, a quasi-public corporate entity that operated the port, purchased the site in 2016.
“We are proud to be making this long-term commitment to the State of Delaware, its community and its economy,” said Badr Jafar, chairman of Gulftainer’s executive board. “This landmark agreement builds on Gulftainer’s 43-year track record of delivering excellence and dependability in ports and logistics operations around the world, and will create thousands of new jobs, enhanced links and sustainable value for Wilmington and the State.”
Other state officials chimed in with their support.
“This is truly a remarkable partnership for the State of Delaware, the City of Wilmington, our Port and the thousands of families whose livelihoods depend on this facility,” said Secretary of State Jeff Bullock, chairman of the Diamond State Port Corporation. “The agreement signed today represents many months of very hard work on the part of many people, all of whom were dedicated to achieving a result that benefits all sides. It has been a privilege to be a part of this effort; I’m proud of the work we’ve done, and I’m excited for the future of this partnership and what it will mean for our state.”