In the run-up to the long-awaited goal of entering the world’s top ten terminal operators, Turkey’s Yilport Group, which is part of the Yildirim Group, now focuses on the North American region of Mississippi, specifically Gulfport, the second-largest city in the world. populated state. A significant investment (in the order of hundreds of millions of dollars) in the Port of Gulfport is in the forge.
Port Authority of Mississippi and Yilport Ink MoU
In this context, a memorandum of understanding was signed in February between the Turkish company and the Mississippi Port Authority which contemplates the large investment in infrastructure by Yilport – the company, which has a strong influence on the Portuguese port panorama, intends to be a concessionaire of the port for 50 years, with a later extension (optional) of 49 years.
“We believe we have the wisdom and the experience and, moreover, we see the lack of investment in the American ports. There are many things we can bring back to improve terminals, increase productivity and increase service delivery,” said group leader Robert Yildirim at the International Maritime Summit in Turkey last March.
“I smell business while others just read financial reports to understand the value of each business. We are going to market niches where operations are more difficult and where they need bigger investments. But we try to get long-term concessions through capex investment to protect our investments,” Robert Yildirim, quoted by the joc.com portal, said.
Plans to Link Mississippi to Terminals in Peru and Ecuador
Among other potentials, the leader of the Turkish group spoke of the strategic value that the Port of Gulfport could have in connecting the Mississippi region with the Yilport terminals in Peru and Ecuador, especially in the area of refrigerated goods traffic. This strategic step will mark the group’s entry into North America, once it failed to acquire the Ports of America company in 2017.
It is recalled that the Port of Gulfport is in the final phase of a long process of reconstruction and rehabilitation (valued at USD 570 million) after the natural disaster caused by Hurricane Katrina in 2005, destroyed much of its infrastructure, structures.
(Source: Cargo Revista)
Sea News, April 6