U.S. state of Louisiana announces investment $1.8 billion for Louisiana´s Port Expansion Project

Photo credit: Port of New Orleans

A new public-private partnership has seen its light in the U.S. state of Louisiana, where Gov. John Bel Edwards announced that the state itself, the Port of New Orleans together with two global maritime industry companies will build a $1.8 billion new container facility on the Lower Mississippi River.

The new name of the terminal will be Louisiana International Terminal (LIT) and located in St. Bernard Parish, where the terminal will be able to serve vessels of all sizes. Once build it will be able to handle 2 million TEUs (twenty-foot equivalent units) per year, taking advantage of the deeper 50-foot Lower Mississippi River Ship Channel and avoiding height restrictions from Mississippi River bridges further up the river.

The project is currently in the design and permitting phase of the U.S. Army Corps of Engineers’ environmental review process. The construction is estimated at this stage to begin in 2025 and the first berth to open in 2028, as it is mentioned in the statement of the port of New Orleans.

Furthermore, it was announced, that the New Jersey-based Ports America, one of North America’s largest marine terminal operators, together with the Switzerland-based Mediterranean Shipping Company, through its terminal development and investment arm Terminal Investment Limited (TiL), have committed $800 million towards the terminal project. In addition to the partners’ investment, the construction of the terminal will be supported by a substantial commitment from Port of New Orleans, as well as state of Louisiana and federal funding sources. The joint venture will also operate the terminal once construction is complete, as it is stated.

Source: The Port of New Orleans

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