Port of Corpus Christi OKs $217 Million Bond Package

Image source: Port of Corpus Christi

The Port of Corpus Christi said in their latest announcement that they approved a bond resolution authorizing the port to issue up to $217 million in revenue bonds to help finance major capital improvements, including 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,” they stated.

At the epicenter of the port’s 10-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 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, which have propelled the Port of Corpus Christi to what is now the largest energy export port in the U.S. by volume, the port said.

We are pleased the Commission approved this bond resolution and look forward to a successful round of financing,” said Sean Strawbridge, CEO of the Port of Corpus Christi.

With the growth our customers are experiencing, coupled with our P3 (Public Private Partnership) development structures, this additional financing will augment our already strong balance sheet and position the South Texas Coastal Bend for further prosperity.”

News of the bond approval comes on the heels of another major announcement earlier this month when the U.S. Army Corps of Engineers (USACE) 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 contributed funds, with dredging operations scheduled to begin later this year.

 

 

Share this article

Follow Dredging Today

Events>

<< Dec 2019 >>
MTWTFSS
25 26 27 28 29 30 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 31 1 2 3 4 5

3rd International Congress Hydraulic Engineering Structures and Dredging

Russia’s leading maritime industry Media Group PortNews (www.portnews.ru) holds a traditional annual Congress “Hydraulic Engineering Structures and Dredging” in Moscow. 

The two-day Congress includes the 7th International Forum of Dredging Companies and the 3rd Technical Conference “Modern Solutions for Hydraulic Engineering”.

Infrastructure development is among the real sources of Russia’s economy growth. Construction of port facilities and new hydraulic engineering structures on the country’s inland waterways constitute an essential part of all infrastructure projects. It is important to take into account the best international practices to implement these projects effectively.

The program of the Congress will be devoted to the latest technologies for dredging and hydraulic engineering works. Speakers and delegates will refer to real projects to discuss specifics features of dredging works, as well as dedicated fleet and equipment involved.

To learn more about event, please, contact the organizing committee: snitko@portnews.ru

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of DredgingToday.com, you'll reach countless professionals in the sector. For more information, click below....

apply

Dredging jobs in Abu Dhabi at NMDC

National Marine Dredging Company “NMDC” aims to be the largest dredging player in the Arab’s Gulf region...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of DredgingToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply