$6 Million Pier 400 Agreement Approved for Design and Construction Management Services.Business Editors LOS ANGELES--(BUSINESS WIRE)--Oct. 11, 2000 A $6 million agreement for the preliminary design and construction management services for buildings and gate facilities at the Port of Los Angeles' Pier 400 container terminal A container terminal is a facility where cargo containers are transhipped between different transport vehicles, for onward transportation. The transhipment may be between ships and land vehicles, for example trains or trucks, in which case the terminal is described as a was approved today by the Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. Board of Harbor Commissioners. The agreement is between Holmes & Narver, Inc. and Maersk Pacific, Ltd., the terminal operators of the 484-acre Pier 400 container terminal. The contract covers a three-year period. The action by the Board is unusual in that it is the first contract approved under a City of Los Angeles
tr.v. ex·pe·dit·ed, ex·pe·dit·ing, ex·pe·dites 1. To speed up the progress of; accelerate. 2. the completion of the project. Upon completion of the preliminary design, Maersk Pacific will issue a notice inviting bids for the final design and construction of the buildings under a design-build delivery system. The agreement for the preliminary design will impact approximately 32 direct and spin-off The situation that arises when a parent corporation organizes a subsidiary corporation, to which it transfers a portion of its assets in exchange for all of the subsidiary's capital stock, which is subsequently transferred to the parent corporation's shareholders. jobs in the five-county region over the three-year contract. Direct jobs stem from the contractor, material, equipment and service expenditures and spin-off jobs are generated from purchases by industries that provide goods and services In economics, economic output is divided into physical goods and intangible services. Consumption of goods and services is assumed to produce utility (unless the "good" is a "bad"). It is often used when referring to a Goods and Services Tax. to the construction industry as well as the re-spending of worker income. When the Pier 400 container terminal is completed, it will be the world's largest proprietary container terminal. The first phase is scheduled for completion in the summer of 2002 and the entire project will be completed by spring of 2004. |
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