Jacksonville Port Authority agrees $238.7m deal with tenant SSA Marine to construct 80-acre box terminal at Blount Island, increasing port’s significance on the US East Coast.
The Jacksonville Port Authority board has agreed a 25-year, $238.7m deal with tenant SSA Marine that will fund the development of a new container terminal on nearby Blount Island.
SSA Jacksonville International Gateway Terminal will take up about 80 acres, with potential to reach 120 acres, according to local media. Work will begin on the project’s first phase on August 1.
Jaxport will contribute $109m for berth rebuilds and enhancements, while SSA Marine’s $129.7m will go towards new infrastructure and three post-Panamax cranes.
The vote passed unanimously at Monday’s board meeting and was met with enthusiasm from US Representative John Rutherford.
“We want to see JAXPORT become the logistics hub of the Eastern seaboard and this is a big step forward in that direction,” he said at the board meeting.
The terminal will benefit from an ongoing dredging project that will deepen the Jaxport harbour to 47 feet.
It will have a vessel turning basin and deepwater access, and will be well-situated to capture some of the port’s 16% annual growth in Asia-Pacific trade.
Both the deepening and the terminal projects are expected to be completed by 2023.