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10/27/2022
Tradepoint Atlantic on Tuesday announced a joint investment partnership with Terminal Investment Ltd. (TIL) to build an on-site, 165-acre container terminal and on-dock rail facility at Coke Point in Sparrows Point, Maryland.
The project will support long-term growth at the Port of Baltimore, state and local officials said in a press release. Tradepoint is the global logistics hub and industrial center located at the former Bethlehem Steel site in Sparrows Point.
The project marks the next major phase of redevelopment at Sparrows Point, Tradepoint and government officials said in a press release. A dollar value of the project was not revealed.
TIL is a world leader in the creation and development of container terminal sites and will give Baltimore's port a major competitive advantage on the Eastern seaboard, Tradepoint and TIL officials said.
In addition, Maryland Gov. Larry Hogan, Baltimore County Executive Johnny Olszewski and Baltimore Mayor Brandon Scott singed a memorandum of understanding that calls for promoting a collaborative process between the three jurisdictions and supporting the port's growth.
The privately owned short line Tradepoint Rail serves Tradepoint Atlantic and connects to CSX and Norfolk Southern Railway.
"Tradepoint Atlantic has quickly become a transformational force as one of North America’s most strategic and versatile commercial gateways and a magnet for major companies like Amazon, BMW, FedEx and Volkswagen to build and expand their footprint in the region,” said Hogan. “It has also solidified the Port of Baltimore’s status as one of the best ports in America."