The Port of Corpus Christi has approved a $217m financing programme for major capital improvements. The financing will allow the port to continue plans to develop more terminals, rail facilities, and making channel improvements.
The plans include the deepening and widening of the Corpus Christi Ship Channel. Currently at a depth of 45 feet, the channel will be dredged to 54 feet to accommodate Suezmax and larger vessels, and widened to 530 feet to allow for two-way traffic flows, positioning the Port of Corpus Christi as the deepest draft navigation Port in the U.S. Gulf. These enhancements are designed to handle the growing export volumes of U.S. crude and natural gas.
News of the bond approval comes on the heels of another major announcement in June when the U.S. Army Corps of Engineers (USACE) included nearly $23m in its FY18 Work Plan for the Corpus Christi Channel Improvement Project. The $335m project has now received over $138m in Federal and Port contributed funds, with dredging operations scheduled to commence later this year.
For more information, visit: www.portofcc.com