The Port of Oakland has announced plans for a proposed USD $600 million spending project.
The large-scale investment scheme will focus on a rail development, a refrigerated warehouse and a terminal expansion.
For the rail development, the Port of Oakland are intending to spend $244 million on separating railroad tracks from major port ways, with the money set to come mostly in the way of government grants.
A proposed $90 million of private funding is also to be used to build a refrigerated warehouse, called ‘Cool Port’. The work on this meat-chilling facility may begin as early as March 2017.
A further private investment of $50 million is already being implemented for the expansion of the port’s second biggest terminal.
Commenting on the project, the port’s Maritime Director, John Driscoll, said “We’re building for growth in a shipping industry that is becoming more and more competitive”.
The port is hoping that by taking these steps towards modernisation, containerised cargo volume will ultimately increase.
Last month (January 2017), the Port of Oakland announced that they were one of three US ports that set volume records in 2016.