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State picks operator for New London port

January 7, 2019

HARTFORD, Conn. (AP) — Connecticut’s Port Authority has chosen an operator for the State Pier in New London.

The Day reports the authority reached a 20-year agreement on Monday with Gateway New London LLC. Gateway currently runs the port in New Haven.

Matthew Satnick, co-CEO and chairman of Enstructure, Gateway’s financial partner, says they view New London’s deep-water port as a potential offshore wind hub.

The state has committed to spend $15 million on improvements that would allow developers to use the pier to deploy equipment for the construction of wind turbines off the coasts of Rhode Island, Massachusetts, New York and New Jersey.

State Pier currently receives shipments of mostly steel, lumber, and salt.

Gateway has agreed to pay the port authority at least $500,000 annually to operate the port, with $250,000 increases every five years.

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