Thursday, September 18, 2014 Top StoryHawaii to build $266M container terminalHawaii is building a new $266 million container terminal to increase capacity at its ports. The Kapalama Container Terminal will be constructed across a channel from Sand Island in Honolulu. It will span 94 acres and is expected to boost cargo capacity by one-third, according to The Honolulu Star-Advertiser. The state's final environmental impact report was released and is expected to be approved. The project, which will likely be financed through revenue bonds, harbor tariffs and leases, is expected to be completed by 2016. Workers have already started tearing down vacant buildings at the former Kapalama Military Reservation site. Terminal capacity in Hawaii hasn't expanded in 30 years. Approximately 80 percent of Hawaii's goods are imported, and officials say most of those goods come through commercial harbors. When the facility was first planned a decade ago, officials predicted that Honolulu Harbor would start needing more cargo capacity by 2015 and that a lack of space would impact the economy by 2020. Then cargo volume dropped by 15 percent during the recession. Although growth over the past few years has been disappointing, according to state Department of Transportation spokeswoman Caroline Sluyter, the island's population and economy is expected to grow, so it makes sense to expand to provide for the future needs of the state. For more of The Garden Island story: thegardenisland.com More Newswire stories FedEx to raise rates in January 2015 VPA commissioners set performance metrics for port leader China Shipping Development buys $130M stake in domestic tanker firm Hurricane causes $20M damage to Port of Long Beach breakwater
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