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MPA and Ports of America agree terms at Seagirt

MPA and Ports of America agree terms at Seagirt

Whilst the State of Maryland will continue to own Seagirt, once the agreement is finalised Ports America will be responsible for running daily terminal operations as well as investing in a new berth, cranes, and other infrastructure.

Under the agreement, the Maryland Transportation Authority will receive an immediate payment in excess of US$100m for required maintenance of its roads, tunnel and bridge facilities. It also is projected that this agreement will generate US$15.7m per year in new state taxes.

Ports America has operated Seagirt Marine Terminal since the facility opened in 1990 and also operates the MPA’s Dundalk Marine Terminal.