This clears the way for the port to start new work and double the capacity at the deep-water container terminal.<\/p>\n
The lease also allows the port to begin work on a $320 million project to build the terminal\u2019s second phase, which will begin later this year.<\/p>\n
Governor Terry McAuliffe, said: \u201cThis is an historic event for The Port of Virginia, this new lease helps to put the port on the path to long-term sustainability which, in turn, will result in continued job creation, investment and revenue for the Commonwealth.\u201d<\/p>\n
\u201cFurther, this sends a very clear message \u2013 world-wide \u2014 that The Port of Virginia is investing for the long-term and we will be able to service the vessels of any ocean carrier here at what will be one of the most modern and efficient container terminals in North America for decades to come.\u201d<\/p>\n
VIG is currently processes 600,000 container lifts annually and is served by eight ship-to-shore cranes and with on-dock rail services provided by both CSX and Norfolk Southern.<\/p>\n
The expansion will take an estimated three years to complete and result in a longer berth, an expanded rail operation, an expanded container yard and four new ship-to-shore cranes.<\/p>\n
John Milliken, chairman of the VPA Board of Commissioners, said: \u201cThe potential economic impacts of the build-out are significant. We anticipate this project creating thousands of new port-related jobs and generating hundreds of millions in state and local taxes and billions of spending and investment throughout the state.\u201d<\/p>\n
He concluded: \u201cTwo years ago, when we began the work of re-elevating The Port of Virginia\u2019s status, our goals were to create efficiency at our terminals, improve our delivery of service, put the port on a sustainable financial basis and expand our capacity to drive job and economic growth in Virginia.\u201d<\/p>\n
\u201cWith this announcement we have set our growth path for the next 20 years and built a bridge to our long-term future, which is a terminal on Craney Island.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
The Port of Virginia has signed a new long-term lease for Virginia International Gateway (VIG) to give the port operating rights at the terminal until 2065.<\/p>\n","protected":false},"author":8,"featured_media":2410,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[29],"tags":[],"sponsor":[],"class_list":["post-2409","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-north-america"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.portstrategy.com\/greenport-congress\/wp-json\/wp\/v2\/posts\/2409","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.portstrategy.com\/greenport-congress\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.portstrategy.com\/greenport-congress\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.portstrategy.com\/greenport-congress\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/www.portstrategy.com\/greenport-congress\/wp-json\/wp\/v2\/comments?post=2409"}],"version-history":[{"count":1,"href":"https:\/\/www.portstrategy.com\/greenport-congress\/wp-json\/wp\/v2\/posts\/2409\/revisions"}],"predecessor-version":[{"id":2411,"href":"https:\/\/www.portstrategy.com\/greenport-congress\/wp-json\/wp\/v2\/posts\/2409\/revisions\/2411"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.portstrategy.com\/greenport-congress\/wp-json\/wp\/v2\/media\/2410"}],"wp:attachment":[{"href":"https:\/\/www.portstrategy.com\/greenport-congress\/wp-json\/wp\/v2\/media?parent=2409"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.portstrategy.com\/greenport-congress\/wp-json\/wp\/v2\/categories?post=2409"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.portstrategy.com\/greenport-congress\/wp-json\/wp\/v2\/tags?post=2409"},{"taxonomy":"sponsor","embeddable":true,"href":"https:\/\/www.portstrategy.com\/greenport-congress\/wp-json\/wp\/v2\/sponsor?post=2409"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}