Friday, January 18, 2013
$500 million infrastructure upgrade at Port Newark Container Terminal on track for 2015
The Port Newark Container Terminal is preparing for the Panama Canal expansion in 2015 by making $500 million worth of infrastructure upgrades, anticipating massive post-Panamax vessels and increased traffic.
The PNCT investment includes the purchase of 30 new straddle carriers, three rubber-tired gantry cranes capable of lifting two containers simultaneously, and the expansion of the terminal's current container yard by 80 acres, which is already in process.
The expansion aims to double container traffic through the terminal, and The Port Authority of New York/New Jersey will invest up to an additional $150 million to support further improvements at the PNCT facility.
For more of the Property Panama story: property-panama.com
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