APM Terminals Extend Port Lease and Announce $500M Investment

15 Apr APM Terminals Extend Port Lease and Announce $500M Investment

APM Terminals (APMT) have announced they will invest over $500 million at its 350-acre Elizabeth terminal after it agreed to a 33-year lease extension until December 2062 with the Port Authority of New York and New Jersey.

APMT Elizabeth handles over 25% of the port’s annual container throughput and during the previous lease, APMT invested $200m in modernisation. This $500m investment will improve cargo handling capacity via enhancements such as layout optimisation, berth rebuilding in anticipation of rising sea levels, new zero-emission cargo-handling equipment and more.

These modernisations will significantly increase capacity, create employment opportunities and align with the Port Authority’s goal of reaching net zero agency-wide by 2050.

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