In December, the court ruled that the $150 million grain elevator project met the 'public use' and 'public necessity' criteria for the port to invoke eminent domain to obtain a six-acre parcel owned by RSG Forest Products. Since the ruling, the port had been negotiating the sale of the parcel with the Kalama, Wash.-based RSG.
RSG, which purchased a 54-acre parcel at the port in 2005 with plans to build a sawmill, argues that the loss of the six-acre portion of the property would render the sawmill plan unprofitable. The port officially condemned the six-acre parcel last October.
Last week, port officials for the fourth time since 2006 extended a lease option to EGT, the Bunge North America and Japan-based Itochu partnership planning to build the grain elevator on the six-acre parcel. EGT is expected to sign a 75-year lease once the property issue is settled.
As part of the development, the port plans to fund the building of a new $6 million berth at the facility to service EGT's business. The port has projected that the new terminal, when completed, would handle 30 million to 35 million metric tons of grain exports per year.
Brokerage Compliance Symposium
The day before F3. Every compliance issue you face - fraud exposure, carrier liability, FMCSA rules, cargo theft, insurance gaps - navigated by attorneys and operators defining best practices in a changing industry.
F3 Awards Dinner
The night before F3. FreightTech100 companies honored. FreightTech 25 and Shipper of Choice winners revealed live. Cocktail reception into dinner and live music - 300 industry leaders in one purpose-built room.
F3: Future of Freight Festival
Industry-defining keynotes, rapid-fire technology demos, and industry leaders networking in experiences across Chattanooga - plus the inaugural F3 Awards Dinner featuring the FreightTech and Shipper of Choice reveals.
The day before F3. Every compliance issue you face - fraud exposure, carrier liability, FMCSA rules, cargo theft, insurance gaps - navigated by attorneys and operators defining best practices in a changing industry.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register NowThe night before F3. FreightTech100 companies honored. FreightTech 25 and Shipper of Choice winners revealed live. Cocktail reception into dinner and live music - 300 industry leaders in one purpose-built room.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register NowIndustry-defining keynotes, rapid-fire technology demos, and industry leaders networking in experiences across Chattanooga - plus the inaugural F3 Awards Dinner featuring the FreightTech and Shipper of Choice reveals.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register Now