Yilport to invest in Port of Gulfport, Mississippi
Yilport Holding will invest in facilities and equipment upgrades at the Port of Gulfport, Mississippi as part of a lease agreement with the Mississippi State Port Authority.
With the Port of Gulfport nearing completion its US$570m restoration project, the terminal investment from Yilport Holding, a subsidiary of Yildirim Group of Companies, will be the company’s first in the US.
“As we continue discussions with Yilport, the Port of Gulfport has a unique opportunity to evaluate a private-public partnership (PPP) that could lead to a significant investment in additional infrastructure and provide both parties with increased global coverage,” said port executive director and CEO Jonathan Daniels. “Our central location will allow Yilport to further expand international trade lanes from Gulfport and increase cargo throughput.”
Chairman of Yilport Holding, Robert Yuksel Yildirim, said the company believes there is a lack of investments in many US ports and aims to make the port the most competitive port in the region, as well as boost Yilport’s trade potential.
He stated: “We see a great potential to feed volume particularly refrigerated goods to Gulfport from Yilport terminals in Ecuador and Peru and Latin America to reach out Midwest USA. There is further potential in leveraging the company’s trading subsidiary to handle containerized liquid and bulk products out of the US Gulf Coast region for small and medium-sized shippers.”
The port is currently planning how it will complete a 282-acre dredge and fill program for further expansion of the port’s operations.
Yildirim Holding, which has a 24% stake in CMA CGM Group, currently operates a ferroalloys production and refining facility in Butler, Pennsylvania.
In August 2016, the company committed to investing USD750m for the development and modernization of the Puerto Bolivar port in Machala, Ecuador.
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