Port of New Orleans announces $226 mln grant award for the Louisiana International Terminal Project
The Port of New Orleans (Port NOLA) has been awarded an additional $226,220,195 in federal grant dollars to assist in building the Louisiana International Terminal (LIT), according to the company's release.
The U.S. Department of Transportation notified Congress that it intends to award this funding through its Infrastructure for Rebuilding America (INFRA) competitive Grant Program, which aims to advance the Biden administration’s priorities to rebuild U.S. infrastructure through funding of multimodal freight and highway projects.
In addition to the $226 million INFRA Grant, the U.S. DOT recently awarded Port NOLA $73.77 million through its MEGA Grant program, totaling $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 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 dramatically increase Louisiana’s import and export capacity and create unparalleled opportunity.
The LIT will be built through a historic $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).
Additionally, Louisiana lawmakers have already provided nearly $30 million toward early development costs for the LIT, which is currently in the federal permitting and design process. The state also committed $50 million for the design of the St. Bernard Transportation Corridor, which has been sought after for years by St. Bernard Parish leaders and residents and will connect the terminal to the interstate system.
Construction on this multi-year, phased project is anticipated to begin in 2025, with the first ship wharf opening in 2028.
