April 29, 2010 – FedEx and the Port Authority of NY and NJ have reached an agreement that will keep the shipping giant at Newark’s Liberty Airport until at least 2030, according to the Newark Star-Ledger.
The deal is worth $352 million over the life of the lease, with FedEx responsible for making $30 million of improvements to its site by 2025, according to the Port Authority. FedEx moved almost 400,000 tons of cargo last year from the site and employs about 2,000 there.
Read more on the agreement at Shipping & Logistics Industry Today:
New Jersey – New York Port Authority news – http://shipping.einnews.com/news/port-of-new-york-new-jersey
FedEx news – http://shipping.einnews.com/news/Y-federal-express
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