TAMPA — Port Tampa Bay approved a public-private partnership agreement with four other entities to divvy up who will pay for a $60 million widening and extension of the Big Bend Channel.
The strategic partners include the U.S. Army Corps of Engineers, the Florida Department of Transportation (FDOT), Tampa Electric Co. and Mosaic Co., a global fertilizer company which is one of port's largest tenants along with Tampa Electric. The port's board of commissioners unanimously approved the participation agreement at a monthly meeting on Tuesday.
The Big Bend Channel connects to the Tampa Harbor main channel and will be deepened from 34 feet to 43 feet and widened from 200 feet to 250 feet to accommodate larger ships.
The Army Corps estimates the expansion to cost more than $60 million, but future bids may wind up higher or lower than that. Bids are not expected until March 2018. Project funding from the partners would be due at that time.Read more at Tampa Bay Times.