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For Immediate Release PORT APPROVES AGREEMENT, FACILITY TO CAPITALIZE
ON COPPER EXPORTS Click here
for a photo bulk loading. February 28, 2006 -- Port of Vancouver Commissioners recently approved a six-year agreement with bulk terminal operator, Kinder Morgan, and authorized funds to build a 72,000 sq. ft. storage facility positioning the port to capitalize on the exploding copper concentrate export market.
The Commission action extends the management agreement between the port and Kinder Morgan Bulk Terminals through 2011 with two five-year renewal options that could extend the contract to 2021.
The need for the new building is based on a 92% increase in dry bulk exports through the port in 2005 and projected continuing demand from Asian markets. Copper concentrate, a new export for the port in late 2004, totaled 268,132 metric tons last year. An additional 187,842 metric tons of bentonite clay were also exported.
“This storage capability strengthens our position and gives Kinder Morgan and the Port of Vancouver a competitive edge in capturing the emerging markets for copper concentrate and other minerals,” said Larry Paulson, Port Executive Director. “Over the long term, this agreement and the new facility, aided by proposed rail improvements, have the potential to bring significant growth and jobs to the port.”
Marco Ullmer, West Coast Sales and Marketing Manager for Kinder Morgan, told Commissioners that his company has already signed on a second company to utilize the new warehouse as soon as it is ready and has a third company that will utilize it in early 2007. One firm currently utilizes all of the available storage space at the Port of Vancouver facility.
Kinder Morgan, a Louisiana-based stevedore company with corporate headquarters in Houston, Texas, manages over 160,000 square feet of bulk storage warehouses at the port. Kinder Morgan assumed the operation of the port's export bulk facility at Terminal 2 when it acquired Hall Bulk Marine in 1998.
Commissioners authorized the port to accept a bid of $913,051.52 from Triad Mechanical, Inc., of Portland for the new storage building. Total project cost, to include site preparation and the foundation has been budgeted at $2 million. To be responsive to market demand, the port has placed the project on a fast-track with a projected completion date of June 6, 2006.
The Port of Vancouver, USA, created by Clark
County taxpayers in 1912, is one of the major ports on the Pacific
Coast. Its competitive strengths include available land, versatile
cargo handling capabilities, vast transportation networks, a dependable
labor force and an exceptional level of service to its customers
and community. Contact:
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