Dec. 13, 2012
/PRNewswire/ -- Anticipating its new 42.5-acre near-port intermodal container transfer facility to become a major international and domestic freight hub for
, the Florida East Coast Railway (FEC) signed a joint marketing agreement with Port Everglades to promote the facility, which is expected to break ground in early 2013 and completed in Spring 2014.
"The ICTF with new technology will allow FEC to efficiently and effectively deliver superior transportation service between
Eastern United States
," said FEC Chief Executive Officer
. "This agreement enables FEC and Port Everglades to be in a competitive position for additional freight and jobs beyond the completion of the Panama Canal."
The agreement calls for joint promotions including international business development, the creation of promotional materials, shared sponsorships and milestone events.
The ICTF, to be adjacent to the
container terminals at Port Everglades, will facilitate containerized cargo transfer through the Port to/from the FEC main line. The facility will be unique compared to similar facilities at other ports in that both domestic and international cargo will be handled at the site, which will result in advantageous transfer and shipping fees for Port Everglades customers. By relocating the intermodal cargo from the current rail facility on Andrews Avenue, two miles from the Port, traffic congestion on State Road 84 will be reduced significantly.
"An ICTF adjacent to the Port Everglades pier operations will not only ensure our seaport remains competitive with other U.S. East Coast gateways, but will give our port a cost and time-to-market advantage over many of these gateways, thereby putting more and more
residents to work as a result of the additional business opportunities it will generate," said Port Everglades Chief Executive & Port Director
. "This unique public–private partnership is consistent with Governor Scott's efforts to expand support to
's ports, leveraging private sector capital to complete the project."
FEC signed a lease agreement with
to build and operate the ICTF for 30 years.
contributed the land for the facility to serve its domestic and international business segments. The Florida Department of Transportation (FDOT) recently provided FEC, with
in grants through its Strategic Intermodal System program. The remaining costs,
, will be covered by the FEC with
from an FDOT State Infrastructure Bank loan and
from FEC capital plan.
This project is expected to create 767 construction jobs over the next two years, and support thousands of cargo jobs statewide into the future. It is estimated that 180,000 truck trips will be removed from roads by the year 2027, reducing both highway congestion and air emissions.