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5/25/2022
The Oregon International Port of Coos Bay yesterday announced that a definitive lease agreement with NorthPoint Development has been executed for the future development of an intermodal facility on the North Spit of the Coos Bay harbor.
The development will result in construction of a state-of-the-art, rail-served maritime port capable of processing over 1 million containers annually, Coos Bay officials said in a press release.
Port-owned property on the North Spit has been leased to NorthPoint Development for up to 75 years. Total construction costs for the project are estimated at $1.7 billion.
"This project is uniquely impactful because it will create a much-needed new gateway on the West Coast that will ease ongoing congestion and supply-chain issues along the U.S. western seaboard, as well as construct a facility to the highest environmental standards available," said John Burns, the port's CEO.
On May 23, port officials applied for a $1 billion federal grant through the U.S. Department of Transportation's Mega Grant Program to help fund infrastructure improvements as part of the project.