The Port of Virginia has revealed that it is investing $18 million in Virginia Inland Port (VIP) and Richmond Marine Terminal (RMT) to expand and modernize operations.
Specifically, the port wants to expand capacity at those facilities, reconfigure some areas of operation and ensure the terminals are ready for the future.
The investment will be spent on two projects, and the work at both sites is underway.At VIP, the Port of Virginia has plans to expand and reconfigure the terminal’s rail operation and the container stack yard through building three new rail sidings and installing backbone infrastructure for technology.
VIP will be receiving four rubber-tire gantry cranes so that older equipment can be retired. The cranes will come from one of the container terminals at Norfolk and they will be repurposed at Front Royal. The target completion date is 2024.
On the other hand. at RMT, the port is making improvements to the terminal’s main gate and developing a drop-lot for motor carriers. This will allow for faster processing of trucks leaving and entering the terminal. This project will cost $3 million and should be ready by early 2024.
The investment is part of the larger, $1.4 billion Gateway Investment Program that focuses on expanding the port’s capabilities, modernizing functions and ensuring long-term competitiveness.
“VIP and RMT are critical to our overall efficiency and our ability to maintain fluidity at primary container terminals in the Norfolk Harbor,” said Stephen A. Edwards , CEO and executive director of the Virginia Port Authority.
“Because of their strategic locations along important inland cargo corridors, we are able to move cargo closer to its end user, in terms of imports, and exporters can position their containers at these central collection points for loading onto barge and rail.”
The port has made modernization investments that are instrumental to achieving its long-term decarbonization goals. With the implementation of a progressive environmental program, the operations will achieve net-zero carbon emissions by the year 2040. The goal includes a 65% reduction in greenhouse gas emissions and operating with 100% renewable energy by 2032.