Ports America has signed a 50-year lease with the port of New Orleans to continue to operate the port's Napoleon Avenue and Nashville Avenue Terminals.
As part of the agreement, Ports America will invest USD66.5 million in infrastructure and equipment to accommodate up to four new 100 ft (30.5 m) gauge container cranes at the terminals. The investment will allow both terminals to facilitate larger ships and increases in volumes.
The agreement outlines the potential to expand the partnership and increase container capacity with new infrastructure at other potential locations in the port’s tri-parish jurisdiction.
If both parties determine that the expansion project is feasible at a new location, Ports America will invest a minimum of USD300 million and receive a right of negotiation for development and operating rights.
Additionally, the port of New Orleans will provide Ports America with a three-year right to assess and develop an off-dock gate, container yard, chassis depot and/or intermodal container transfer facility (ICTF) that would support existing or new container terminals.