Dragados SPL, which is part of Grupo ACS, a Madrid-base conglomerate, is extensively involved in terminal operations and infrastructure development in Europe, China and South America and Velasco will be its first venture into the US port market.
Port Freeport is investing US$42m in phase one of the Velasco Terminal project which includes an 800 foot (244 m) berth. Upon completion, the US$225m facility will offer 1,200 linear feet (366 m) of berthing, 90 acres (36 ha) of developed backland and container throughput capacity of more than 750,000 teu annually.
The adjacent ship channel has a mean low water depth of 45 feet (13.7 m) and the port is seeking to have it widened and deepened. In addition, port officials are working with the Texas Department of Transportation with the aim of widening Texas Highway 36, the port’s main road trucking artery.