Construction for the Port of Wilmington’s Edgemoor expansion is expected to start this summer, with added money from the state to close an $185 million funding gap.
The Edgemoor expansion's phase 1 construction is now expected to cost approximately $670 million.
Public-private partners identified the gap during a recent cost evaluation to build the new container terminal about 2 miles upstream from the Port of Wilmington.
The cost increase was announced a month ago. Diamond State Port Corporation Interim Executive Director Brian Devine said the state has committed an additional $110 million in spending on the project, bringing its total contribution to $325 million. During initial planning, the state planned to use escheat funds to cover its contribution.
But during the most recent Port of Wilmington Expansion Task Force meeting, Devine couldn’t confirm where the additional $110 million will come from and, "we might be able to share those at the next meeting."
He added:
"I know the administration has been working with the legislature on a funding plan, that they committed to in executive session."
Enstructure, the port operator, plans to kick in an additional $105 million.
And Federal funding is set to cover $69 million more than initially planned, bringing its total contribution to $119 million.
The Edgemoor container terminal plans have long-stalled because of complications involving permitting and its previous operator. But task force officials say construction is set to start in the next month.
A new meeting for the task force has not been set yet. And the Diamond State Port Corporation Board of Directors's next meeting is not yet scheduled either, but will be listed here.
