The Jacksonville Port Authority (Jaxport) Board has voted to approve an agreement with SSA Marine to develop and operate a $238.7m international container terminal at its Blount Island Marine Terminal in the US for 25 years.

The agreement has two five-year renewal options and includes several improvements to the new SSA Jacksonville International Gateway Terminal.

Set to stretch about 80 acres at Blount Island, the terminal has the potential to reach 120 acres as space becomes available.

It is an expansion of SSA Marine’s existing leasehold at Blount Island and will offer deepwater berthing space to accommodate the larger container ships calling Jaxport from Asia.

Once the Jacksonville Harbor Deepening project concludes in 2023, the new facility will offer a vessel turning basin and deepwater access of 47ft.

Jaxport CEO Eric Green said: “The significant investments SSA Marine has committed to this facility, accompanied by their unparalleled industry knowledge and experience, allows us to take full advantage of all of the opportunities the Jacksonville Harbor Deepening project creates for our port and our region.”

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“The significant investments SSA Marine has committed to this facility, accompanied by their unparalleled industry knowledge and experience.”

Terminal operator SSA Marine will contribute $28m for using Jaxport’s three 100-gauge cranes. The funds will be used for the deepening project, which will be completed based on continued funding from all partners.

SSA Marine will offer up to $129.7m for the use of the terminal and facility upgrades, including the addition of three new 100-gauge container cranes.

Jaxport will complete berth rehabilitation and upgrades with a $109m investment to allow the terminal to simultaneously accommodate two post-Panamax vessels.

SSA Marine currently leases 50 acres at Blount Island.

Over the first ten years of the contract, the terminal is estimated to create 3,000 jobs.