This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
1/24/2024
The Port of New Orleans (Port NOLA) has been awarded an additional $226.2 million in federal grant dollars to assist in building the Louisiana International Terminal (LIT).
The U.S. Department of Transportation notified Congress that it intends to award the funding through its Infrastructure for Rebuilding America (INFRA) competitive grant program, port officials said in a news release.
In addition to the INFRA Grant, the USDOT recently awarded Port NOLA $73.77 million through the Mega Grant program. The now more than $300 million in federal grant dollars will support the first construction phase of the $1.8 billion container terminal.
The recent federal awards are in addition to significant private industry partner and state funding commitments, port officials said. The 400-acre LIT also has garnered support from more than a dozen ports in six states as well as major trade and agriculture associations throughout America's heartland, they said.
The LIT will be built through an $800 million public-private partnership between Port NOLA, Ports America and Switzerland-based Mediterranean Shipping Co. through its terminal development and investment arm Terminal Investment Ltd.
After it opens, the LIT is anticipated to handle 180,000 to 280,000 containers in its first year. The number of containers traveling through the terminal will increase over time, taking about 25 years to reach its maximum annual capacity of 1.2 million containers, port officials said.
The LIT will have rail access to all Class Is via the New Orleans Public Belt Railroad.