MSC and Ports America come onboard $1.8bn Port of New Orleans box terminal project
Terminal Investment Limited (TiL), the ports unit of the world’s largest container carrier Mediterranean Shipping Co (MSC) and port operator Ports America have joined the Port of New Orleans (Port NOLA) and the State of Louisiana to build a $1.8bn container terminal on the Lower Mississippi River.
The new Louisiana International Terminal (LIT) project in St. Bernard Parish will see $800m invested by New Jersey-based Ports America and TIL, in addition to “substantial commitment” from Port NOLA, as well as state and federal funds.
Port NOLA purchased 1,200 acres of land in Violet in 2020, sufficient to accommodate the terminal, value-added services and warehousing facilities. The project is currently in the design and permitting phase of the U.S. Army Corps of Engineers’ environmental review process. Construction is set to start in 2025, with the first berth expected to begin operations in 2028.
Once fully constructed, the terminal will serve vessels of all sizes and be able to handle 2m teu annually.
“Today, the container trade in Port NOLA mainly consists of export cargo, making it an exception among US ports, which are usually import-heavy. LIT will attract new container trades, providing access for local industry to cost-competitive shipping options,” said Tom Van Eynde, TiL terminal investment director for North America.
