According to today's USDA Grain Transportation Report, the Port of New Orleans (Port NOLA) recently secured $800 million of private investments toward the $1.8 billion Louisiana International Terminal project on the Lower Mississippi River (LMR).
Currently in the design phase, the project is slated to begin construction in 2025 and estimated to open in 2028. Capable of handling 2 million 20-foot equivalent units (TEUs) annually, the terminal will include a 350-acre container facility with a 3,500-linear-foot wharf on more than 1,000 acres.
Via the 50-foot-deep LMR Ship Channel, the terminal will serve vessels of all sizes (including ultra-large container ships). The depth of the channel will help vessels avoid height restrictions from bridges up the river. In addition to private investments, the terminal’s construction will be supported by commitments from Port NOLA and State and Federal funding.