SSA Marine Commences Construction at Texas City International Terminal

SEATTLE- SSA Marine announced this week that construction will begin during the next month on its container terminal at Shoal Point in Texas City, Texas, commonly known as Texas City International Terminal (TCIT). Texas City and TCIT have received all the necessary permits from the State of Texas and the U.S. Army Corps of Engineers. The USACE's Environmental Impact Statement on the project has identified Shoal Point as the "environmentally preferred" site in the Galveston Bay region for the development of a container terminal. TCIT is being developed completely with private funds and not taxpayer supported bonds.

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Texas City International Terminal (TCIT) will include 400 acres of container yard, 6,000 feet of berth, a channel dredge depth of 45 feet and a container volume capacity of over 2.45 million containers (TEUs or twenty-foot equivalent units). The facility is located 8 miles from the Galveston Bay seabuoy with immediate access to the major north-south freeway, Interstate 45.

"We're proud that through our partnership with Texas City this project will create almost 28,000 jobs and $42 million in tax revenues over the first 20-years of the project, as well as give a strong boost to the local and regional economy," said Andy McLauchlan, SSA Marine's senior vice president of business development and marketing. "This is an important development in the Galveston Bay region and the state of Texas, which has seen a 10% average cargo volume growth over the past ten years."

The initial phase of construction will consist of 125 acres and 2,000 feet of berth. The total cost of Phase 1 is approximately $200 million, and operations will commence in 2006.

Texas City Mayor Carlos Garza remarked, "The tremendous positive economic impact from this container port project will generate substantial tax revenues and spur job growth throughout the region. We're committed to the success of TCIT and look forward to working with other ports in the Galveston Bay region to ensure that we strengthen our already dominate maritime role in the U.S. Gulf."

About SSA Marine

SSA Marine is the largest privately held container terminal operator and cargo handling company in the world, handling approximately 18 million container TEU's per year at its marine and rail terminals. The company has 150 operations worldwide, including port operations throughout the U.S. as well as internationally in Panama, Mexico, Chile, Costa Rica, Iraq, South Africa and New Zealand, and more than 13,000 employees.

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