A memorandum of understanding (MOU) was signed between the State of Maryland, Baltimore County and Baltimore City to support the alliance.
A crucial phase of the redevelopment at Sparrows Point, the new project is expected to help create 1,000 new jobs in the region.
The Port of Baltimore is said to be the largest e-commerce port in the US, as well as one of the country’s busiest ports.
It deals with a major volume of autos and light trucks, roll-on/roll-off heavy farm and construction machinery, and imported gypsum.
Last November, the governor broke ground on the Howard Street Tunnel expansion project, which will include the reconstruction of the tunnel to accommodate double-stacked container trains to and from the port.
Maryland Governor Larry Hogan said: “Tradepoint Atlantic has quickly become a transformational force as one of North America’s most strategic and versatile commercial gateways and a magnet for major companies like Amazon, BMW, FedEx and Volkswagen to build and expand their footprint in the region.
“It has also solidified the Port of Baltimore’s status as one of the best ports in America, and today we are celebrating a joint partnership between Tradepoint Atlantic and Terminal Investment Limited, which will further expand the growth and competitiveness of the Port with the addition of an on-site 165-acre rail-served container terminal.”