Port of New Orleans box terminal project gets $266m federal funding
The Port of New Orleans (Port NOLA) has been awarded an additional $226m federal grant to assist in building the $1.8bn Louisiana International Terminal (LIT).
The new box terminal, which will be located in Violet, Louisiana, will leverage Port NOLA’s connectivity via four interstate systems, six class I railroads, 14,500 miles of inland waterways and more than 30 inland hubs.
It will be built through a $800m public-private partnership between Port NOLA, New Jersey-based Ports America and Terminal Investment Limited (TiL), the ports unit of the world’s largest container carrier Mediterranean Shipping Co (MSC).
Along with a recently announced $73.8m grant from the US Department of Transportation, the LIT project has received around $300m in federal grant dollars so far.
Brandy Christian Port NOLA president and CEO said that “not only is this the biggest economic development grant in Louisiana history, but also the largest federal investment in a new container terminal in USDOT history”.
Additionally, Louisiana lawmakers have already provided nearly $30m toward early development costs for the LIT, which is currently in the federal permitting and design process. The state also committed $50m for the design of the St. Bernard transportation corridor, which will connect the terminal to the interstate system.
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.
