In addition to the $226 million INFRA Grant, the US Department of Transport recently awarded Port NOLA $73.77 million through its MEGA Grant programme, totalling $300 million in federal grant dollars to support the first construction phase of the $1.8 billion container terminal.
The recent federal awards are in addition to significant private industry partner commitments as well as the State of Louisiana, and Port NOLA. LIT has also garnered support from more than a dozen ports in six states as well as major trade and agriculture associations throughout the heartland of America.
The new container terminal, which will be in Violet, Louisiana, will leverage Port NOLA’s connectivity via interstate systems, railroads, waterways, and inland hubs to increase Louisiana’s import and export capacity and create unparalleled opportunity.
“We are incredibly honoured to receive this landmark grant award, which underscores decades of site and market analysis and reflects the recognition of our transformational project on a global scale,” said Port NOLA President and CEO Brandy Christian. “
The LIT will be built through a $800 million dollar public-private partnership between Port NOLA, one of North America’s largest marine terminal operators New Jersey-based Ports America and Switzerland-based Mediterranean Shipping Company through its terminal development and investment arm Terminal Investment Limited (TiL).
Construction on this multi-year, phased project is anticipated to begin in 2025, with the first ship wharf opening in 2028.
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