USA: Port of San Diego, Mitsubishi Cement Corp sign conditional agreement
As part of strategic efforts to increase cargo business at the Port of San Diego, the port has entered into a conditional agreement with Mitsubishi Cement Corporation (MCC) for potential future operations at Tenth Avenue Marine Terminal.
The conditional agreement, which was approved by the Board of Port Commissioners on 11 June 2015, will allow the Port to conduct a project review under the California Environmental Quality Act in anticipation of MCC's potential operations at the Tenth Avenue Marine Terminal on San Diego Bay.
The Port entered into this agreement to facilitate MCC's potential development, lease and operation of a marine transfer and storage facility for the importation, distribution, exportation, handling, and storage of bulk cement, cement-related bulk products, and concrete aggregate.
The conditional agreement envisions contributions by MCC toward modernising the marine terminal and the company's participation in development costs for long-term improvements.
"Our maritime business capacity is a core strength of the Port of San Diego, and that's why we are committed to maximising our cargo facilities," said Port Chairman Dan Malcolm. "We look forward to working with Mitsubishi Cement Corporation. By harnessing the power of partnerships to invest in this terminal, we reinforce our status as San Diego's maritime cargo gateway to the world."
"The agreement with Mitsubishi Cement Corporation is a key step in the long term redevelopment and modernisation of the Tenth Avenue Marine Terminal and helps us build momentum for increasing volume in one of our three core cargo areas: Break Bulk, Refrigerated Containers and Bulk," said Maritime Director Joel Valenzuela.
"This partnership supports our efforts to realize the potential of Tenth Avenue, while positively impacting the San Diego economy and directly supporting regional construction activity."
Mitsubishi Cement Corporation manufactures all of the major types of Portland and specialty cements used in California and Nevada. The company was formed in March 1988, with the acquisition of the Cushenbury cement plant in Lucerne Valley, California, and other ancillary assets.
