Cincinnati Bulk Terminals (CBT) has partnered with the Port of Greater Cincinnati Development Authority to build a $19.7m shipping terminal on the Ohio riverfront.
The proposed terminal will allow cargo shipments by rail, barge and truck using two cranes for loading cargo containers, according to dredgingtoday.com.
The port will be developed in phases starting with the acquisition of Queensgate South, a former junkyard providing more space for CBT to expand its cargo shipment.
Earlier the Port Authority proposed Cincinnati City Council for a public-private partnership with CBT to acquire a 17-acre industrial site north of a 45-acre tract where CBT operates a barge-loading terminal.
CBT and the Port Authority will start the project with an initial investment of $6.7m and the remaining $13m will be spent on electric cranes and other container handling equipments.
The project is seeking a $5m loan from the Ohio Logistics and Distribution Stimulus Programme.