Vancouver USA port purchases 111 acres

Officials at the Washington state Port of Vancouver on Wednesday finalized the $24.5 million purchase of a key parcel in the planned development of its Terminal 5 project.

   The 111-acre parcel, purchased from Evergreen Aluminum, is being funded by a $32.6 million bond issuance.

   The port also plans to close by late March on a $23.8 million deal for an adjacent 107-acre parcel now owned by Alcoa Aluminum, which will also be part of the planned Terminal 5 project.

   Once the port takes possession of both parcels, construction is expected to begin on terminal development. Demolition and clearance of the Alcoa and Evergreen properties are nearing completion.

   When completed, Terminal 5 is projected to employ as many as 1,000 jobs, depending on the use and customer.

   Last week, the port signed a deal with Class I railroad BNSF to provide rail service to the future terminal.

Source: American Shipper