LONGVIEW — The Port of Longview will move forward with a nearly $4 million rail line upgrade with a guarantee that one of its tenants will financially support the project.
Philadelphia-based International Raw Materials, which leases Berths 1 and 2, signed an agreement with the port Wednesday outlining terms of the rail project.
In that agreement, the port promised to construct its North Rail Connection project, which will add nearly 5,000 feet of new track at the port and realign about 1,500 feet of existing track. That project will increase rail capacity and move cargo more efficiently, allowing IRM to increase its productivity, according to port documents. The company handles dry bulk commodities, such as soda ash.
In exchange, IRM will pay a per-car rail maintenance fee to offset costs of common area rail maintenance and repair. It also will spend nearly $3 million for a rail fender system project, extend its lease at the port through October 2027 and guarantee additional revenue for the port by increasing the tonnage of its business.
