After taking over the Howland Hook Marine Terminal on Staten Island, New York, the French shipping group CMA CGM is now ready to invest heavily in modernizing the terminal.

According to a press release The Port Authority of New York and New Jersey welcomes CMA CGM’s willingness to invest 200-300 million dollars in the project.

CMA CGM has signed a lease agreement with the Port Authority to operate the Howland Hook terminal through 2047, and the French are prepared to invest in a major expansion of the terminal’s capacity, among other things.

”The private investments we are announcing today will increase this port’s capacity by 50 percent, ensuring it will be a key economic driver for Staten Island and our entire state for decades to come,” Kathy Hochul, Governor of New York State, said in the announcement.

”This project is critical for the economic future of Staten Island, bringing good-paying jobs and new investments to help this community thrive,” she says.

The terminal project is expected to employ around 300 construction workers and secure around 80 permanent positions once construction is complete..

”By investing in this critical infrastructure and delivering on our mission to provide the best transportation solutions available, CMA CGM will give U.S. companies the opportunity to assume greater control over their supply chains,” says Peter Levesque, managing director, CMA CGM Americas.