The Port of New Orleans (Port NOLA) has been awarded an additional US$226,220,195 in a federal grant to assist in building the Louisiana International Terminal (LIT).
The US Department of Transportation notified Congress that it intends to award this funding through its Infrastructure for Rebuilding America (INFRA) competitive Grant Program.
In addition to the US$226 million INFRA Grant, the US DOT recently awarded Port NOLA US$73.77 million through its MEGA Grant program, totaling US$300 million in federal grants to support the first construction phase of the US$1.8 billion container terminal.
“This money to build a new terminal in the Port of New Orleans is good for commerce, good for jobs, and good for coastal communities,” said US Senator Bill Cassidy. “Because I had a seat at the table for the infrastructure law, Louisiana is punching above its weight in the funding coming to our state.”
“This grant funding is a historic step towards transforming the economic landscape of Louisiana and solidifying our position as the premier international Gulf gateway. This additional investment will leverage Port NOLA’s extensive connectivity to interstate systems, railroads, waterways, and hubs. This is yet another example of the Bipartisan Infrastructure Law bringing critical investments to our great state, and I am proud to see the legislation I championed yield big results,” said Congressman Troy A. Carter, Sr.
The new state-of-the-art container terminal, which will be located in Violet, Louisiana, will leverage Port NOLA’s connectivity via four critical interstate systems, six Class I railroads, 14,500 miles of inland waterways and 30+ inland hubs to increase Louisiana’s import and export capacity and create unparalleled opportunity.
Port NOLA President and CEO Brandy Christian said, “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.”
The LIT will be built through a historic US$800 million dollar public-private partnership between Port NOLA, one of North America’s largest marine terminal operators New Jersey-based Ports America and the world’s largest box line MSC through its terminal development and investment arm Terminal Investment Limited (TiL).
Additionally, Louisiana lawmakers have already provided nearly US$30 million toward early development costs for the LIT, which is currently in the federal permitting and design process. The state also committed US$50 million for the design of the St. Bernard Transportation Corridor.
Construction on the multi-year, phased project of LIT is anticipated to begin in 2025, with the first ship wharf opening in 2028.
