Staten Island Terminal project granted ARRA funding

The New York City Capital Resource Corporation (NYCCRC) has approved the allocation of up to US$ 28 million for the construction of a cement import and distribution facility in the Elm Park section of Staten Island Terminal. The Terminal, which is partnered with Cementos Lima, will receive 25 – 30 x 40 000 dwt bulk carriers per year, and will provide up to 800 000 tpa of cement to New York City.

The construction project will cost some US$ 51.7 million altogether and will include a 28 000 ft.² pier and major machinery and equipment for ship unloading. Work will begin this year, and is due for completion in 2012. The NYCCRC approved funds come as a result of the American Recovery and Reinvestment Act, which has provided financing for this project since the usual financing methods are not available in the current financial climate.

Aside from improving the availability of cement in the region, the new terminal will create upwards of 300 jobs in the borough. Transport to construction sites through deep-water channels will be more environmentally-friendly than the current method of transport by truck, which causes significant congestion.

Read the article online at: https://www.worldcement.com/the-americas/15042010/staten_island_terminal_project_granted_arra_funding/