Taxonomy: Infrastructure

Plastic Express lease ‘game changer’ for Savannah

Capital Development will invest more than $172 million as part of the deal for the 1.075 million-square-foot facility.

Plastic Express lease ‘game changer’ for Savannah

Capital Development will invest more than $172 million as part of the deal for the 1.075 million-square-foot facility.

Plastic Express lease ‘game changer’ for Savannah

Capital Development will invest more than $172 million as part of the deal for the 1.075 million-square-foot facility.

 

   Capital Development Partners has announced Plastic Express has signed a long-term lease on Building I, a 1.075 million-square-foot dual rail-served facility at the Savannah Port Logistics Center, for exports of U.S.-made products.
    Capital Development will invest more than $172 million in infrastructure and buildings to serve the needs of customers at the Port of Savannah, according to the announcement, which said the state-of-art facility will process more than 25,000 containers and 5,000 rail cars per year.
    “Plastic Express will export more than 100 million tons of U.S. products per year through our facilities to Europe, Africa, India and Asia, which brings significant dollars back into our economy,” said Capital Development CEO John Porter (pictured above right). “There will be over 166 permanent jobs created, more than 100 construction jobs created and an equal amount of manufacturing jobs. We invested heavily in infrastructure and facilities to support the Georgia Ports Authority, which sets the platform for major job and economic growth.”
    Georgia Gov. Brian Kemp (pictured above left) said Plastic Express’ “impact will not only be felt in terms of job creation and investment, but they will be one of the top five export customers for the Georgia Ports Authority.”

   Georgia Ports Authority Executive Director Griff Lynch said, “This is a game changer and makes Georgia a leader in the Southeast for the export of resins. With growth accelerating in the American energy sector, Gulf-area refineries will require alternate export capacity, and the Port of Savannah stands ready to serve that need.”
    Headquartered in City of Industry, California, Plastic Express is a major exporter and shipper of plastic resins and PVC, which is a fundamental commodity for the manufacturing of multiple products including construction materials. The company will start major operations in Savannah in October.
    “We are very happy to plant our flag in Savannah with Capital Development,” said Ray Hufnagel, Plastic Express president and CEO. “Plastic Express has been searching for a strategic opportunity in every viable port location in the Southeast for a few years. The impressiveness of the Port of Savannah’s operations and Capital Development made this a clear choice for us.”

I believe freight has to have its own dedicated revenue stream that’s just paid for by freight and benefited by freight.

BlueWater Reporting’s database shows 57 container services operate on the Asia to North America (U.S. and Canada) trade, with the OCEAN Alliance operating 19 services, THE Alliance operating 14 services, and the 2M Alliance operating 10 services (two of which are jointly operated with ZIM).

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Plastic Express lease ‘game changer’ for Savannah

Capital Development will invest more than $172 million as part of the deal for the 1.075 million-square-foot facility.

Apr 30, 2019 on Dec 27, 2018AmericanShipper.com

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Plastic Express lease ‘game changer’ for Savannah

Capital Development will invest more than $172 million as part of the deal for the 1.075 million-square-foot facility.

Apr 30, 2019 on Dec 27, 2018AmericanShipper.com