Oakland concession granted

In what has been described locally as a ‘precedent-setting, public-private partnership’, the Ports America/Terminal Investments Ltd partnership will operate, maintain and further develop a land/water-side site of approximately 175 acres.

The deal – valued at nearly $700m – marks the first public-private partnership of its kind in the US ports sector.

Phase 1 calls for investment of up to $150m from the concessionaire to upgrade 160 acres within the Port of Oakland, including some 4,400 ft of berth.

Ports America Oakland’s bid also includes a comprehensive environmental plan to supplement the Port of Oakland’s ongoing program to improve air quality in the San Francisco Bay area.

The concessionaire has also pledged “significant additional capital” to improve the “competitiveness of the port”.