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Ports America To Operate Port Of Oakland

by Mike Godfrey, for LawAndTax-News.com, Washington

09 March 2009


The Ports America Group has announced that Ports America Outer Harbor LLC (Ports America Oakland) has been selected by the Port of Oakland Board of Commissioners to upgrade and operate five container berths in the Port of Oakland through a 50-year concession and lease agreement.

Ports America Oakland is a partnership between Ports America and Terminal Investments Limited, an affiliate of Mediterranean Shipping Company - the second largest container shipping company in the world.

Ports America is the largest independent American terminal operator, stevedore and port-side vehicle processor, with operations in 50 ports and 97 terminals.

The first phase of Ports America Oakland’s operational plan includes the investment of up to USD150m (GBP105m) to upgrade 160 acres within the Port of Oakland, comprising some 4,400 feet of berth.

This investment is expected to create over 6,000 jobs within the Bay Area and Ports America estimates that it is likely to help to preserve an additional 85,000 jobs regionally.

Ports America Oakland's bid also includes a comprehensive environmental plan to supplement the Port of Oakland's ongoing program to significantly improve air quality in the San Francisco Bay area.

In addition, during the life of its operational stewardship at the Port of Oakland, Ports America Oakland has announced that it plans to invest significant additional capital to improve the competitiveness of the port for the benefit of its communities and customers.

These investments are expected to aggregate to over USD500m (GBP352m), resulting in the creation of up to 12,000 direct and 240,000 indirect jobs.

Commenting on the Oakland Concession, Ports America CEO, Stephen Edwards, stated:

“On behalf of Ports America and our partner, Terminal Investments, we are extremely excited to work with the Port of Oakland to help implement their vision in taking this major American port to its fullest potential, now and for the long term future.”

Highstar Capital’s Founder and Managing Partner, Christopher Lee, added:

“The Oakland Concession is a very significant milestone for both the future of the Port of Oakland and the competitiveness of our West Coast ports generally.”


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