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Through-the-Fence" Cargo Facility Planned at Denver International Airport

Value of WorldPort has been placed at $200 million.

By John Rebchook | Updated on July 28, 2000

DENVER, CO—Engineering work has begun on a new $200 million air-cargo facility on 60 acres at the Denver International Airport. Construction will start on October 1, says John M. Lasell, vice president of Bovis Lend Lease, the general contractor.

WorldPort is the first so-called “through the fence” cargo operation at DIA, one of the nation’s busiest airports. That means that the cargo operation actually will be on DIA property to expedite the movement of cargo. The project will create 1,581 direct jobs and more than double the 450,000 tons of cargo currently shipped annually from DIA.

The first phase, estimated at $63 million, includes $54 million in tax-exempt bonds that were sold by the city last April in less than 30 minutes, says Stephen E. Howard, senior vice president of public finance for Lehman Brothers, one of several Wall Street investment houses involved in the deal. Merrill Lynch, J.P. Morgan and George K. Baum of Denver also were involved in the financing.

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