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North Carolina News-SouthportDown Payment Made on New Port JANUARY 25, 2006 -- The NC State Ports Authority has made a down payment on land that it hopes to turn into one of the largest shipping ports on the East Coast.The authority made a $3 million down payment on 600 acres in Brunswick County. It signed the deal this month with Pfizer to buy the land for $30 million, all of which it will borrow. The remaining $27 million will be paid after several more steps are completed, including approval from Governor Easley and the Council of State. The council is expected to consider the deal next month.The undeveloped land is located on the Cape Fear River near Southport. Authority leaders envision an international shipping terminal that will compete with facilities at Norfolk, Savannah, and Charleston.Copyright 2006 by The Associated Press. All Rights Reserved. |
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Last Update 1/6/06