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APM Terminals is preparing $500 million to build a container terminal on the West Bank of Plaquemines Parish, Louisiana, USA.
Maersk’s Port Operations division currently operates four container terminals in the United States and 62 locations around the world, and is said to have great potential to enable new business west of the Mississippi River. A letter of intent has been signed with the Port of Plaquemines regarding the construction of a new terminal. It is the port closest to the river mouth and has the widest turning radius for ships.
“This major commitment demonstrates the market’s tremendous confidence in Louisiana as the home of vibrant and growing port activity,” said Louisiana Governor Jeff Landry. “It’s a direct investment in the businesses and industries that built Louisiana, and that’s how I see it,” he added. We look forward to the continued impact our ports will have on job growth and the economy here in our state. ”
Plaquemines Port plans to lease the land to APM Terminals under a 30-year agreement with extension options. APM Terminals estimates that the initial investment in terminal infrastructure will be approximately $500 million, which will be covered by private funding.
The initial project is estimated to cost $500 million and will be privately funded. It spans 200 acres, has in-dock rails, and has a berth capable of accommodating the 14,000 teu, the largest vessel currently passing through the expanded Panama Canal. APM Terminals said there is also an option to expand the site to up to 900 acres for terminal expansion and complementary logistics activities.
“Over time, this greenfield site has the potential to evolve into one of the large shipping gateways to the United States,” said Wim Lagaai, CEO Senior Investment Advisor at APM Terminals.
“This venture will allow us to build from the ground up a modern logistics hub that integrates cutting-edge technology and sustainable practices to raise standards of safety, efficiency and productivity. Port of Plaquemines and local Collaboration with our stakeholders is key to developing a facility that will set new industry standards and benefit the region’s economic vitality,” added Lagaai.
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