Emirati Port Operator Sinks $100M Into Florida Port

Law360, New York (June 23, 2014, 7:13 PM EDT) -- Emirati port operator Gulftainer’s American subsidiary on Monday agreed to invest $100 million in Florida’s Port Canaveral as part of a deal to lease and operate a new container and cargo terminal, port officials announced.

While some details of the new terminal, dubbed "Project Pelican," were known in advance, this is the first official confirmation that GT USA, Gulftainer's subsidiary, is taking the lease. This will be Gulftainer's first U.S. terminal, and is expected to commence operations by the final quarter of 2014.

Port officials expect it to contribute $630 million to the local economy and generate $350 million in taxes....

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