The Port of Vancouver's board unanimously approved a 10-year lease for a crude oil handling facility.
Tesoro wants to bring North American crude oil to the port by rail and then transfer it to marine vessels headed for West Coast refineries.
Tesoro Savage is expected to invest about $100 million to ready the 42-acre site, and the facility will create up to 120 permanent jobs and 250 temporary construction jobs. The port estimates its revenue over the 10-year lease will exceed $45 million.
Read more at Sustainable Business Oregon.