Port of Corpus Christi Secures Funding in USACE FY18 Work Plan
- Business & Finance
The Port of Corpus Christi has achieved an another milestone with last week’s release of the U.S. Army Corps of Engineers (USACE) FY’18 Work Plan.
Included in the Corps of Engineers’ navigation construction budget was nearly $23 million for the Corpus Christi Channel Improvement Project (CIP) designed to deepen and widen one of the nation’s busiest waterways.
“As evidence of our positive working relationship with the Army Corps of Engineers, their 2018 Work Plan further moves our most important critical infrastructure project to fruition and will ultimately increase exports of American energy to our allies and trading partners around the world,” said Sean Strawbridge, Port of Corpus Christi CEO.
Earlier this year, the Administration’s Fiscal Year 2019 Budget for the Army Corps of Engineers Civil Works allocated $13 million in funding for the Port of Corpus Christi’s CIP.
The additional $23 million in Work Plan monies fully funds the second of six contracts and extends the project construction from the entrance in the Gulf of Mexico to Redfish Bay.
Anticipated completion of the entire project is projected for 2021-2022 and is estimated to increase exports of U.S.-produced energy by nearly $40 billion while increasing the fluidity and safety of vessel traffic.