From Deseret News archives:
Mideast firm may run 6 U.S. ports
Government won't stop deal with United Arab Emirates company
The Bush administration considers the United Arab Emirates an important ally in the fight against terrorism since the suicide hijackings and is not objecting to Dubai Ports World's purchase of London-based Peninsular and Oriental Steam Navigation Co.
The $6.8 billion sale is expected to be approved Monday. The British company is the fourth largest ports company in the world and its sale would affect commercial U.S. port operations in New York, New Jersey, Baltimore, New Orleans, Miami and Philadelphia.
DP World said it won approval from a secretive U.S. government panel that considers security risks of foreign companies buying or investing in American industry.
The U.S. Committee on Foreign Investment in the United States "thoroughly reviewed the potential transaction and concluded they had no objection," the company said in a statement to The Associated Press.
The committee, which could have recommended that President Bush block the purchase, includes representatives from the departments of Treasury, Defense, Justice, Commerce, State and Homeland Security.
The State Department describes the United Arab Emirates as a vital partner in the fight against terrorism. But the United Arab Emirates, a loose federation of seven emirates on the Saudi peninsula, was an important operational and financial base for the hijackers who carried out the attacks against New York and Washington, the FBI concluded.
Sen. Charles Schumer, a Democrat whose district includes the New York port, urged the administration to consider the sale carefully.
"America's busiest ports are vital to our economy and to the international economy, and that is why they remain top terrorist targets," Schumer said. "Just as we would not outsource military operations or law enforcement duties, we should be very careful before we outsource such sensitive homeland security duties."
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