Guam port signs cement terminal lease
The Port Authority of Guam and bulk cement provider Cementon Micronesia signed a lease Tuesday for a new bulk cement terminal at the commercial port of Guam.
The new terminal, to be located on Golf Pier, will greatly increase the storage capacity of Cementon, which already operates one cement storage facility at the port.
Both parties said the new lease and terminal would greatly increase the flexibility of the local construction industry, which is expected to see a surge in demand with the transfer of United States military personnel on Okinawa to Guam starting in 2010.
The new cement terminal is to be completed by the second quarter of 2010.
Various industry forums had identified the lack of bulk cement supplies as one of the port's short falls in the face of the impending military buildup.
'Our decision to invest over $12 million in a bulk cement terminal is our vote of confidence in Guam's future. An additional bulk cement terminal is extremely important to the economic buildup of our island and our region,' said John Perez, manager of Cementon.