The Maryland Port Administration has reached an agreement with Ceres Marine Terminals to create a private "mini-terminal" at the Dundalk Marine Terminal.
The terminal will be similar to one Maersk Inc./Universal Maritime Service Corp. has operated at the Dundalk terminal since November.
Under the agreement, approved yesterday by the Board of Public Works, the MPA and Ceres will pay for improvements and modifications to an 88-acre site, which will be leased to Ceres.
The MPA will pay $800,000 of the $1.5 million cost to build a computerized gate, fence the area and make other improvements. Ceres will pay the rest and finance future improvements.