April 1, 2008
Portland pawns off marine terminal
Portland wants the state to take over operation of the International Marine Terminal within a year because it can't afford the estimated $8 million to $10 million repair costs.
The Maine Port Authority says it's willing to lease the marine terminal and assume control of its cargo operation because it fits its long-term investment goals and also benefits industries across Maine, John Henshaw, the executive director of the Port Authority, told the Portland Press Herald.
The city's cargo operation, which moved 84% more cargo in 2007 than in the year before, is expected to cost Portland $150,000 this year and bring in $165,000 in revenue, the paper reported. A new lease agreement requires consent from the City Council and the Port Authority's board of directors.
The Maine Port Authority says it's willing to lease the marine terminal and assume control of its cargo operation because it fits its long-term investment goals and also benefits industries across Maine, John Henshaw, the executive director of the Port Authority, told the Portland Press Herald.
The city's cargo operation, which moved 84% more cargo in 2007 than in the year before, is expected to cost Portland $150,000 this year and bring in $165,000 in revenue, the paper reported. A new lease agreement requires consent from the City Council and the Port Authority's board of directors.
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