Private JV To Invest $400M To Build, Operate New Miami Airport Cargo Facility

The consortium is called Miami Portal Allies (MGP), a joint endeavor in between Airis Aviation Growth and Vantage Airport Group. MGP will lease 11 acres of airport terminal land from the region for 40 years and invest at least $400 million “to design, build, finance, keep and run” the cargo facility, according to Miami-Dade County.

United State Homeland Security Department services will also be housed at the center, “consisting of federal inspection and testing facilities,” as well as food and retail offerings, the area stated.

The region’s board of commissioners removed the bargain on July 16. “The brand-new facility will bring MIA’s complete ability to a minimum of 4.5 million lots of freight [annually] and possibly 5 million tons [each year],” the area said, keeping in mind the brand-new center is being created to refine at the very least 1.5 million bunches each year.

MIA stated the airport needs to be able to manage a total amount of 4 million yearly tons of cargo by 2031, rising to 5 million heaps by 2041. Without the brand-new facility, the “forecasted cargo volumes placed MIA in danger of considerable freight quantity leak to completing airport terminals and cities,” the region said.