UAE terminal takeover extends to 21 ports
WASHINGTON, Feb. 24 (UPI) -- A United Arab Emirates government-owned company is poised to take over port terminal operations in 21 American ports, far more than the six widely reported.
The Bush administration has approved the takeover of British-owned Peninsular & Oriental Steam Navigation Co. to DP World, a deal set to go forward March 2 unless Congress intervenes.
P&O is the parent company of P&O Ports North America, which leases terminals for the import and export and loading and unloading and security of cargo in 21 ports, 11 on the East Coast, ranging from Portland, Maine to Miami, Florida, and 10 on the Gulf Coast, from Gulfport, Miss., to Corpus Christi, Texas, according to the company's Web site.
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