Tradepoint Atlantic Deal To Bring $30M In Infrastructure Improvements
The developer of the former Sparrows Point steel mill said it has signed a 10-year agreement with a marine cargo operator, which will provide $30M in infrastructure upgrades to the project.
Host Terminals agreed to the 10-year deal, the Baltimore Sun reports. The agreement will also bring 9,100 jobs to the 3,100-acre project in Baltimore County. Tradepoint and Host have invested $12M in material-handling equipment and $18M in marine infrastructure improvements. Host Terminals was one of eight companies that competed for the project.
Tradepoint is turning the former Bethlehem Steel plant into a transportation, logistics and manufacturing hub. It has already signed several tenants, including Under Armour, FedEx and Harley-Davidson.