The Port of Coos Bay has entered into a Purchase and Sale Agreement (PSA) to acquire the former Georgia Pacific Mill site.
Through this acquisition, the port aims to rehabilitate the site and return it to service, utilising the facility for the movement of goods and commodities through maritime, rail, and trucking for both domestic and international markets.
The PSA has now been fully executed and so the port alongside the facility’s current owner, CDC Inc., will now enter a 60-day due diligence period with the intention of finalising the sale by the end of 2021.
Once the sale is finalised, the port has said it will conduct environmental, permitting, engineering, and design work prior to initiating construction.
“With this facility back in service, it is anticipated that it will bring with it the addition of well-paying wage jobs to the area including longshore labour, yard workers and cargo handlers, as well as additional rail line crews,” said John Burns, CEO of the Port of Coos Bay.
Following the conclusion of phase I construction, the site could be ready to move limited amounts of cargo as early as mid-2023.
The Port of Coos Bay previously announced it has also signed a deal to construct a multimodal container facility on the North Spit of the port complex.
Announced in September 2021, the port and Riverside-based development firm Northpoint have entered into a Memorandum of Understanding (MoU) for the project, with the intention of finalising negotiations and signing a contract by the end of 2021.
