Douglas County-based engineering giant CH2M Hill is watching for opportunities as a ports management company owned by the United Arab Emirates prepares to transfer leases for six U.S. ports.
“We are currently not throwing our name in the hat, but this is an issue that we are continuing to explore,” said CH2M Hill spokesman John Corsi.
CH2M Hill, which had $3 billion in revenues in 2005, provides a range of services to port facilities. But the company doesn’t do the type of operations and management that Dubai Ports World and other companies are known for.
CH2M Hill may expand into ports management in the future.
“We are a growing company,” Corsi said.
The move would be a natural next step for a company like CH2M Hill that already does work – including construction, environmental planning and engineering and architectural design – in ports, said Paul Zofnass, president of financial consulting firm EFCG, which provides business advice to the engineering industry.
The majority of terminals at U.S. ports are managed by companies from Singapore, Taiwan and other countries.
Dubai Ports World, which is owned by the United Arab Emirates, obtained the U.S. terminals in a $6.8 billion acquisition of London-based Peninsular & Oriental Steam Navigation.
The Bush administration approved the transaction in January, but public concern over security led Congress to oppose the deal.
Last week, DP World said it would transfer the ports to a U.S. entity, saving the White House the embarrassment of a losing fight with Congress. The company hasn’t outlined details of the transfer.
The Washington Times reported Friday that Seattle’s SSA Marine and New Jersey- based Maher Terminals are being considered to manage the operation of the six East Coast ports, including Philadelphia and Baltimore.
Staff writer Tom McGhee can be reached at 303-820-1671 or tmcghee@denverpost.com.
