Port of Oakland informed that the containerized cargo volume moving through Oakland is expected to increase 2% per year for the next five years. This will be boosted by a $700 million injection of capital from outside investors.
The investment in facilities and infrastructure aims to boost Oakland’s global trade status. Projects range from a new logistics campus to an online information gateway for cargo owners. Projects will include:
- Substantial completion of TraPac marine terminal’s $60 million expansion to double the size of its Oakland footprint;
- Completion of a $15 million project to heighten four ship-to-shore cranes at Oakland International Container Terminal;
- Groundbreaking for a $52 million Seaport Logistics Complex by CenterPoint Properties;
- Opening of a $90 million Cool Port Oakland refrigerated distribution center by Lineage Logistics and Dreisbach Enterprises;
- Launch of a $40,000 web-based portal by Advent Intermodal Solutions for shippers to track containers or manage cargo pick-up.
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Moreover, a $500 million upgrade at Seventh Street, will separate rail lines from roads and help freight haulers navigate the Port.