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Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: 7bit X-From: emaildelivery@businesswire.com X-To: TX-INDUSTRIAL-INFO-RES@businesswire.com X-cc: X-bcc: X-Folder: \ExMerge - Thomas, Paul D.\Deleted Items X-Origin: THOMAS-P X-FileName: paul d thomas 6-26-02.PST Welcome to eMail News Delivery, a service from Business Wire. Here is your Industrial Information Resources Inc. news release. If you have received this in error please send a message to: eMailDelivery@businesswire.com with the following command in the body of the message: unsubscribe TX-INDUSTRIAL-INFO-RES If you have questions about this service, please contact your Business Wire Account Executive or service@businesswire.com BW2002 JAN 16,2002 2:00 PACIFIC 05:00 EASTERN ( BW)(TX-INDUSTRIAL-INFO-RES) Expansion Plan Ensures that the Virginia Port Authority Remains Competitive in the 21st Century, in an Advisory by Industrialinfo.com Business Editors HOUSTON--(BUSINESS WIRE)--Jan. 16, 2002--The following is an advisory by Industrialinfo.com (Industrial Information Resources, Incorporated; Houston, Texas) In 1995, Virginia Port Authority (VPA) was faced with a dilemma. A key question was asked: What steps needed to be taken to ensure the VPA maintained its market share among competing US East Coast ports? To answer that question, VPA commissioned a study to be done by a consulting team of maritime experts. The results of this study would provide VPA with insight into what steps needed to be taken to meet their long-term goals. The study was completed in June of 1995 and entitled "The VPA 2010 Plan." The Plan focuses on two (2) key areas: Maximizing existing port-wide cargo handling capabilities and developing new or improved facilities to handle the market needs of the future. According to the study, VPA has the potential for a possible 250% increase in containerized cargo (potential Intermodel volume increase of 300%) by the year 2010. In addition, breakbulk cargo could increase by 200% in the same timeframe. To be capable of handling these potential increases in port capacity, VPA had to take a hard, serious look at its existing facilities. It was determined that each of their three (3) cargo terminals would need renovations and expansions future growth. The largest renovation/expansion would have to take place at their Norfolk International Terminal (NIT). However, renovation/expansion work would also be taking place at the Newport News Marine Terminal (NNMT) and the Portsmouth Marine Terminal (PMT). All total, VPA is initially looking at over $334 million worth of improvements and expansions to help attract the more then 16 million tons of general cargo forecasted for VPA by 2010. Some of the work planned includes Intermodel Container transfer facility renovations/expansions at NIT, a new 4,000 ft wharf at NIT, additional container/gantry cranes at NIT, NNMT and PMT, the development of an additional 250 acres of container storage at NIT, the renovation of 81 acres at NIT, the development of an additional 41 acres of container storage at PMT, additional berths added at NNMT, plus miscellaneous modifications and renovations at all three (3) terminals. When it is all said and done, VPA is taking the steps necessary to position themselves as best they can to take advantage of their potential future to the fullest. Investments, such as those mentioned above, will ensure that VPA has the capability to maintain their competitive edge for years to come and hopefully allow them to increase their market share by 2010. The Port of Virginia is among the largest and most successful ports on the East Coast. The three (3) VPA Terminals trade with more then 100 nations and account for an estimated 116,000 jobs throughout Virginia. Industrialinfo.com provides daily news related to the industrial market place including industry alerts and databases for the energy and industrial markets. For more information on trends and upcoming construction activities for the industrial manufacturing markets as well as other industrial sectors send inquiries to industrialmanufacturinggroup@industrialinfo.com or visit us at www.industrialinfo.com. --30--as/na* CONTACT: Industrial Information Resources Inc., Houston Mike Bergen, 713/783-5147 www.industrialinfo.com KEYWORD: TEXAS CALIFORNIA VIRGINIA INDUSTRY KEYWORD: TRANSPORTATION SOURCE: Industrial Information Resources For the best viewing of the news releases please use the following email settings: Courier 10 point. -Notice of Copyright and General Disclaimer- © 2000 Business Wire. All of the releases provided by Business Wire are protected by copyright and other applicable laws, treaties and conventions. Information contained in the releases is furnished by Business Wire`s members who are solely responsible for their content, accuracy and originality. All reproduction, other than for an individual user`s reference, is prohibited without prior written permission. - Notice of Copyright and General Disclaimer -- © 1999 Business Wire. All of the releases provided by Business Wire are protected by copyright and other applicable laws, treaties and conventions. Information contained in the releases is furnished by Business Wire`s members who are solely responsible for their content, accuracy and originality. All reproduction, other than for an individual user`s reference, is prohibited without prior written permission.
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