NORTH AMERICA

Dragados-SPL negotiates with Corpus Christi

21 years ago

In an interesting move, Spanish stevedoring group Dragados-SPL has commenced negotiations with the port authority of the Texan port of Corpus Christi regarding a possible 96-year concession to build a brand new container terminal, which will be known as the Fifth Trade Gateway Container Terminal.

Significantly, ICTSI initially also showed interest in the project in 2004, but following negotiations decided not to continue its involvement, despite the attractions of a facility which will provide a real alternative to container terminals in the port of Houston. The port authority and Dragados-SPL are now trying to identify the optimum investment plan, which should see the terminal up and running by 2008.

The proposed terminal will have a maximum capacity of 1.5m TEUs. At its greatest expanse, it will have a 930,776 sq m stacking yard with vessels docking alongside a 1,158m long quay. There will also be a 303,514 sq m railway terminal, although the full concession will encompass 4m sq m of land.

Initial estimates suggest investment of €320m will be required, of which €260m will be funded by the Spanish company and €60m by the port authority. The initial phase alone has been costed at €130m.