Oregon port OKs federal rail grant agreement for multimodal project
The port commission of the Oregon International Port of Coos Bay has approved a $25 million federal grant agreement, allowing planning and pre-construction activities to advance what is planned as the first fully ship-to-rail intermodal terminal on the West Coast.
The $25 million Infrastructure for Rebuilding America (INFRA) grant will be matched by $25 million from NorthPoint Development, the port’s partner in its public-private partnership, to advance environmental review, permitting, and preliminary engineering activities.
The Pacific Coast Intermodal Port will create a new West Coast option for container traffic, moving boxes between the port and a connection via the port’s Coos Bay Rail Line with Union Pacific (NYSE: UNP) and the national rail network in Eugene, Ore. The terminal has a projected capacity of 2 million twenty foot equivalent units (TEUs).
“The market need for additional freight capacity and supply chain resilience hasn’t changed. If anything, it’s become more apparent,” Chad Meyer, president of NorthPoint Development, said in a release. “This agreement helps us advance the ball and positions us to meet that demand.”
The INFRA grant is just one of several recent funding awards for the estimated $2.3 billion project. The Oregon Legislature has provided $100 million; other federal money includes a $29.75 Consolidated Rail Infrastructure and Safety Improvements grant, and $11.25 million from the U.S. Maritime Administration’s Port Infrastructure Development Program.
