A private investment of $1.3 billion will allow the Port of Baltimore to expand and accommodate a new generation of large cargo vessels. The Maryland Port Administration and a private investment group led by Highstar Capital signed a 50-year lease agreement last week. The investment group will operate the cargo-container terminal for 50 years in exchange for making an upfront payment of $100 million and work on a variety of improvements at the port. Other ports are also undergoing renovations, including improved rail connections.
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