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Business and Economy

Americold to Build Key Refrigerated Warehouse in Portland

PORTLAND, Maine - The world's largest cold-storage company will build a modern refrigerated warehouse on Portland's waterfront.

The state will lease a 6.3-acre site to Americold, which will design the warehouse as well as fund its construction and operate it. The Portland Press Herald reports the project is part of a state effort to make the port more competitive with its rivals and improve Maine's seafood, agriculture and food and beverage industries.

The Maine Port Authority announced Monday that Americold won the bid to develop the site. The project is scheduled to be completed in 2017. Its proposed cost was not disclosed.

Americold is partnering on the project with Eimskip, an Icelandic shipping company. Eimskip made Portland its North American headquarters in 2013. Eimskip will be an anchor tenant of the warehouse.