U.S. Department of Transportation
Office of Public Affairs
Washington, D.C.
www.dot.gov/affairs/briefing.htm
News
MARAD 02-04
Contact: Robyn Boerstling
Thursday, January 8, 2004
Tel.: (202) 366-5807
Portland Waterfront Gets Boost from Oil Rig Construction Project
PORTLAND, ME -- Portlands marine commercial shipbuilding industry is getting a boost
thanks in part to construction of the "Pride Portland" and the "Pride Rio
de Janeiro," two huge oil rigs built by crews working for Cianbro and funded with a
$342 million loan guarantee from the U.S. Maritime Administration (MARAD).
Maritime Administrator Captain William G. Schubert today visited the "Amethyst
Project" at the terminal where the two 12,000 ton oil rigs that symbolize the
citys revitalization efforts were constructed.
Captain Schubert called the working waterfront an asset that will provide jobs and keep
America moving. "This project alone has employed close to 1,000 people and is exactly
what President Bush envisions when he speaks of revitalizing the economy and creating jobs
for every American who wants to work. It is clear that the Amethyst Project is a catalyst
for the city of Portland, one that enhances and builds upon the states already
strong maritime tradition."
The rigs are being constructed for Petrodrill, an international company based in the
British Virgin Islands, and are intended for oil exploration off the coast of South
America. Cianbro, one of the largest construction companies on the East Coast, was awarded
the contract to build and assemble the two semi-submersible drill rigs in 2002.
The loan to Petrodrill must be paid back over 12 years. The loan guarantee program, known
as Title XI, provides a federal guarantee of the private sector debt to aid in the
construction of U.S. built vessels and for the modernization of U.S. shipyard facilities.
The oil rig project is just one part of Portlands plan to revitalize its working
waterfront. The city intends to redevelop its international marine terminal as a dedicated
cargo facility and preserve its roll-on, roll-off infrastructure to handle potential short
sea shipping services. Roll-on, roll-off vessels transport various types of vehicles that
can roll on and off ships. The Short Sea Shipping concept will help ease ground freight
transportation congestion by encouraging the movement of cargo and passengers by water
instead of by highway and rail.
U.S. Secretary of Transportation Norman Y. Mineta said, "Transportation is the
economic engine that keeps this nation moving. Portlands investment in a working
waterfront enhances the nations maritime infrastructure."
The "Pride Rio de Janeiro" has been completed and will depart Portland this
month while the "Pride Portland" is scheduled to be completed this spring.
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