Port working on Cementon timeline

by Ken Quintanilla

Guam - The Port Authority of Guam's board of directors met for the first time since lawmakers held an oversight hearing two weeks ago regarding two parcels of property that have since encountered problems with its development and generating revenue for the agency. According to board vice chairman Mike Benito, while no one was present from Cementon Micronesia to further address the matter, legal counsels from both parties are working on a timeline to ensure some resolution is made.

"The Port and management of the Port is very interested in getting this done as quickly as possible," he detailed." Cementon has put a tremendous amount of money on a huge investment and I think it's important that we get them running and operating as quickly as possible."

Senator Tom Ada had noted that two property parcels at the Port, one of which is leased by Cementon Micronesia has excellent revenue generating potential in which Port management estimated at about $1,000,000 annually. Although Cementon Micronesia had constructed a $20,000,000 cement facility it has been unable to commence operations due to concerns over parts of the property's lease agreement being under Mobil Guam and possible impacts to its assets.

The other piece of property that has gone undeveloped is Hotel Wharf.