The port has approved a public-private partnership agreement that involves the expansion of Big Bend Channel, as well as the use of a portion of $4.2 million in Florida Seaports Transportation and Economic Development Council funds for berth upgrades.
Port Tampa Bay on Tuesday unanimously approved a public-private partnership agreement with four other entities to divvy up who will pay for a $60 million expansion project on the Big Bend Channel, according to the port. Other partners involved in the agreement include the U.S. Army Corps of Engineers; the Florida Department of Transportation (FDOT); and port tenants Tampa Electric Co. (TECO) and Mosaic Co., a global fertilizer company.
Under the project, Big Bend Channel, which connects to the Tampa Harbor main channel, will be deepened from 34 feet to 43 feet and widened from 200 feet to 250 feet.
The Army Corps projects the expansion will cost over $60 million, but future bids may wind up higher or lower than that. Bids are not expected until March 2018, which is when project funding from the partners would be due.
The federal government will provide $9 million and plans to take over maintenance costs of about $1 million, according to Ram Kancharla, vice president of planning and development at Port Tampa Bay.
Meanwhile, FDOT pledged to pay 50 percent of the balance after the federal commitment, and has provided the port with $5.7 million so far. TECO and Mosaic will be responsible for the remaining funds.
The port on Tuesday also unanimously approved the use of a portion of $4.2 million in Florida Seaports Transportation and Economic Development Council (FSTED) funds to upgrade two existing berths.
The port will pay for over half of the reconstruction costs, while the remaining portion will be from FSTED funds and state grants.
Improvements to Berth 219 are expected to cost $8.6 million, while Berth 3 upgrades are estimated at $6.3 million. The port expects the berth upgrades to be completed in 2019.
According to ocean carrier schedule and capacity database BlueWater Reporting’s Port Dashboard tool, the Port of Tampa Bay is called by four liner services connecting it to regions outside the United States, including two NYK RoRo-operated loops deploying pure car/truck carriers that connect the port to various regions throughout Latin America; a Linea Peninsular service sailing between Tampa and Mexico with a multi-purpose vessel; and ZIM and MSC’s jointly operated CGX, a fully cellular container service operating between Caribbean and U.S. Gulf Coast ports.
Port Tampa Bay approves channel expansion project
