{{titleBar.title}}

{{titleBar.tagline}}

 

 

Port of Corpus Christi approves $217 million to upgrade ship channelPort of Corpus Christi approves $217 million to upgrade ship channelhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=205192018-07-03T05:00:00Z2018-07-03T14:00:00Z

​​​CORPUS CHRISTI – The Port of Corpus Christi has ​approved a bond resolution authorizing the Port to issue up to $217 million in revenue bonds to help finance major capital improvements, including improvements to the Corpus Christi Ship Channel.

The financing will allow the Port to continue developing more terminals, rail, and channel improvements needed to handle the burgeoning oil and gas volumes from the region’s large energy producing fields.

At the epicenter of the Port’s ten-year capital investment program is the deepening and widening of the Corpus Christi Ship Channel.

Currently at a depth of 45 feet, the ship channel will be dredged to 54 feet to accommodate 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 along the Gulf of Mexico.

These enhancements are designed to handle the growing export volumes of U.S. crude and natural gas, which have propelled the Port of Corpus Christi to what is now the largest energy export port in the country by volume.

News of the bond approval comes on the heels of another major announcement earlier this month when the U.S. Army Corps of Engineers included nearly $23 million in its FY18 Work Plan for the Corpus Christi Channel Improvement Project. The $335 million project has now received over $138 million in federal and port funds, with dredging operations scheduled to commence later this year.

Port of Corpus Christi
Corpus Christi
Infrastructure & Transportation
http://portofcc.com/port-of-corpus-christi-approves-217-million-bond-package/Read more at {Source}

 Search NewsTalk Texas