Ambre Energy completes acquisition of Port site in Longview, Washington
Purchase is positive step forward for the Project and for Cowlitz County
Longview, Wash. − Ambre Energy subsidiary, Millennium Bulk Terminals (MBT), successfully completed the acquisition of the former Chinook Ventures’ commodity terminal site in Longview, Wash. today. MBT’s transaction signals another positive step forward for the terminal development project, and Cowlitz County, in cleaning up and restoring the value of this property.
“We are pleased this project is moving forward,” said Joe Cannon, CEO of MBT. “We are doing this project the right way and we have gone beyond the letter-of-the-law in the permit process. We are confident that we will successfully permit this project and create jobs and economic benefit for the area.”
The site has been consistently used as a heavy industrial site with water dependent uses, including river based import and export facilities, since World War II.
As part of the transaction, MBT – in coordination with NW Alloys, the property owner, and the Department of Ecology – will assure that the MTCA cleanup activities at the site are completed in full compliance with the Department of Ecology requirements.
Additionally, MBT will install purpose-built structures and machinery, reducing potential environmental hazards and improving safety, and will replace 150 creosote pilings in the Columbia River, improving habitat for fish and overall water quality.
“This underutilized, heavy industrial site has seen its assessed value plummet and is moving toward a classic brown field site,” continued Cannon. “We will cleanup and revitalize this property and ensure that it will have a very positive economic impact in the local area.”
The project is expected to create 120 full-time family wage jobs during the initial construction phase (18 months) and plus 70 full-time family wage jobs during ongoing operations. Additionally, the capital investment in the project is expected to generate $2.7 million in tax revenue during construction and $1.2 million in annual tax revenues during operations.
“At a time when Washington State is struggling with unprecedented revenue shortfalls, this project will bring needed revenues to fund essential city, county and state programs and services,” continued Cannon.
“This project is not just about economics though,” said Cannon. “This has been a problem site in the community for years and we are going to clean it up and restore its value to the benefit of the citizens of Cowlitz County and the State of Washington.”
ENDS
US Media contact: Joe Cannon - 801.633.0035
Australian Media contact: Michael van Baarle +61 (7) 3009 9180
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