The Oregon-based Port of Coos Bay has signed a memorandum of understanding (MoU) with the Missouri-based NorthPoint Development to construct a $1bn multimodal container facility on the port’s North Spit.
With the MOU now in place, the port and NorthPoint aim to finalise a contract by the end of the year, with construction expected to be completed within five years.
Development work will include an extension of the current rail network to the North Spit and a range of infrastructure improvements that will accommodate double-stack container movements.
The 1m teu facility will create 500 short-term construction jobs and up to 250 permanent jobs, and will expand the port’s throughput, which currently stands at 2m tons of cargo and 25m pounds of seafood.
NorthPoint views the Coos Bay project as an opportunity to create an environmentally conscious, state-of-the-art gateway which will alleviate congestion and bottlenecks throughout the US west coast.
Chad Meyer, president of NorthPoint, said: “The Coos Bay Harbor offers an innovative solution to an ever-growing global challenge. We have an opportunity to enhance the economy of the region while improving the logistics system as a whole.”