Image: Port NOLA
Louisiana Gov. John Bel Edwards has introduced a historic public-private partnership between the state of Louisiana, the Port of New Orleans and two main terminal operators to construct a $1.8 billion state-of-the-art container facility on the Lower Mississippi River.
The new Louisiana International Terminal (LIT) in St. Bernard Parish will be capable to serve vessels of all sizes, dramatically rising Louisiana’s import and export capability and stimulating the creation of greater than 17,000 new jobs statewide by 2050, Port NOLA estimates.
New Jersey-based Ports America, and Geneva, Switzerland-based Mediterranean Shipping Company (MSC), via its terminal growth and funding arm Terminal Investment Limited (TiL), have dedicated $800 million towards the mission.
In addition to the companions’ funding, the development of the terminal will probably be supported by a considerable dedication from Port NOLA, in addition to state and federal funding sources. The three way partnership may even function the terminal as soon as building is full.
“This public-private partnership with the Port of New Orleans, TiL and Ports America has the potential to become one of the most impactful economic development projects in our state’s history,” Gov. Edwards stated. “It leverages the economic power of our greatest natural resource – the Mississippi River – and enhances Louisiana’s ability to attract new investment from companies competing in the global marketplace. Access to global markets represents expanding opportunities for both urban and rural communities. The powerful impact of this world-class logistics asset will benefit not only residents and businesses in south Louisiana, it will benefit advanced manufacturing, agribusiness and energy workers all across the state.”
The mission is at the moment within the design and allowing section of the U.S. Army Corps of Engineers’ environmental evaluation course of. Barring unexpected delays, building is slated to start in 2025 and the primary berth to open in 2028.
“Ports America and Terminal Investment Limited are global industry leaders and we value their partnership in the Louisiana International Terminal,” Port NOLA President and CEO Brandy D. Christian stated. “This investment, in addition to the billions of dollars the joint venture will contribute over the life of the lease, demonstrates their confidence in our gateway’s ability to serve vessels of all sizes, while creating jobs and opportunity for Louisiana.”
At full build-out, LIT will be capable to deal with 2 million TEU (twenty-foot equal models) yearly, making the most of the deeper 50-foot Lower Mississippi River Ship Channel and eliminating any peak restrictions from Mississippi River bridges. The new terminal may even strengthen Louisiana’s potential to draw distribution facilities, logistics providers and value-added providers via Port NOLA’s multimodal connectivity.
“Ports America is looking forward to partnering with the Port of New Orleans and the State of Louisiana in the development of sustainable infrastructure that meets the long-term needs of the global container logistics industry on the Mississippi River,” stated Matthew Leech, president and CEO of Ports America. “With over 100 years of operations in New Orleans, Ports America is excited to be part of the future for the next century.”
“We are very excited to announce this partnership that will strengthen Port NOLA’s competitiveness, making it a key facility in the Gulf of Mexico capable of handling ultra-large container vessels,” stated TiL terminal funding director for North America Tom Van Eynde. “Today, the container trade in Port NOLA mainly consists of export cargo, making it an exception among U.S. ports, which are usually import-heavy. LIT will attract new container trades, providing access for local industry to cost-competitive shipping options. The development of this facility cements TiL’s commitment to further strengthen American infrastructure, making Port NOLA accessible for larger vessels and increasing its throughput capacity in a sustainable way that will bring measurable benefits to the community.”
Following an intensive website choice course of and feasibility research, Port NOLA bought 1,200 acres of land in Violet in 2020, adequate to accommodate the terminal, value-added providers and warehousing services, and supply a pure buffer for the close by neighborhood. The newest design incorporates neighborhood suggestions gathered during the last two years relating to site visitors, drainage and different impacts on close by houses and companies.
- View the up to date website plan and be taught extra about LIT at LouisianaInternationalTerminal.com.
