APM Terminals offers Virginia billion dollar port deal

According to a company statement, the aim is for APM to bring efficient operations through its global knowledge, experience and management expertise to optimise the flow of cargo through the Commonwealth. “Operation of the Port of Virginia by APM Terminals will result in an efficient, integrated and modern complex.”

Under the terms of the proposal, APM Terminals will transfer ownership of its facility in Portsmouth to the Commonwealth of Virginia. The total financial value to the Commonwealth over the term of the partnership is estimated to be between US$3 and US$4bn through initial payments, fixed concession payments, revenue sharing, capital investments, and tax benefits, transferring market risk from the Commonwealth to the private sector.

APM Terminals is committed to Hampton Roads through its significant investments in which it designed, built, and implemented the US terminal, one of the largest public port investments in US history.