The Port Authority of New York and New Jersey has signed a 20-year lease with Amazon Global Air to redevelop and expand air cargo facilities at Newark Liberty International Airport, USA. 

Amazon is expected to transform two existing structures, Buildings 339 and 340, into a new state-of-the-art air cargo campus with a targeted investment of US$125 million for renovation. The lease, which remains subject to final negotiation and is expected to take effect later this year, will provide the Port Authority a lump sum upfront payment of US$150 million and another US$157 million in additional rent over the life of the 20-year agreement, which covers about 250,000 square feet of cargo space on 23 acres at Newark Liberty.

The facility’s transformation will upgrade Newark Liberty’s air cargo throughput and service capabilities overall.