Port Of Portland Approves $60-Million Coal Terminal

Pacific Coal Corp. and the Port of Portland have agreed to develop a $60-million coal export terminal, the port announced recently.

The terminal, to be built by Pacific Coal on port property, will handle 10 million tons of coal annually. It is expected to be operating in January 1984.

The facility is the third such project announced by a U.S. West Coast port in recent months. The Port of Long Beach is building a terminal that eventually will serve 30 million tons of coal, and the Port of Kalama, Wash., about 40 miles downriver from Portland, has signed an agreement with Pacific Resources Inc. to build a terminal handling up to 15 million tons per year.

Pacific Coal will build on a 100- acre site in the port's Rivergate Industrial District. About 80 percent of the cost will be financed by industrial revenue bonds issued by the port with Pacific Coal responsible for debt repayment.

Pacific Coal will lease the land for about $750,000 annually on a 25-year lease, with options to renew.

The port will also collect a fee based on the tonnage moved through the terminal.

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Maritime Reporter

First published in 1881 Maritime Reporter is the world's largest audited circulation publication serving the global maritime industry.