The Redwood City, Calif., Port Commission approved a new 10-year lease for Cemex Aggregates with an option to extend the lease for another decade on an 8.2 acres marine terminal, according to The Daily Journal.
Cemex Aggregates imports high-quality building materials from Canada, including sand and aggregates, used in Silicon Valley and Redwood City construction projects. Over the past three years, Cemex has imported nearly 4 million metric tons of building materials.
Cemex also has the capability to use port docks for cement import through ship unloaders, according to port officials. “The high quality of the sand and gravel aggregates from British Columbia combined with the dwindling supply of these materials in Northern California because quarries are unable to expand have triggered and sustained a strong demand that the Port benefitted from,” said Michael J. Giari, Port of Redwood City executive director.
The import of these materials by Cemex drives down the costs for construction projects in Redwood City and Silicon Valley. In Redwood City alone, more than 1,600 new housing units are under construction or have recently been completed. About 1,300 more have been approved or are well through the approval process.
The commercial development in Redwood City is exploding as well, with 1,158,000 sq. ft. of commercial space under construction or recently completed. In addition, a new 177-room hotel is under construction between Highway 101 and the Port of Redwood City, according to port officials.
One of the terms of the new lease is for Cemex Aggregates to relocate a new and/or upgraded hopper and enclosed conveyor system to the port’s new Wharves 1 and 2 by June 30, 2018, according to port officials.