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Ports Deal Now Seeing More Support

March 16, 2006 By: Susan Young Travel Agent

Dubai Ports World said Wednesday it would sell the management rights to six American facilities to an unrelated U.S. buyer within six months. While the United Arab Emirates' company had previously agreed to turn over operations to a U.S. company, the U.S. Congress was concerned about loopholes that could allow it to control some U.S. port operations and wanted more detail. Now, DP World is evaluating offers on totally divesting itself of any U.S. port operations, hoping to close a deal for the total sale of rights in four to six months. One big critic of the original ports plan, Sen. Charles Schumer, (D-NY) praised the new plan.

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