NEW ORLEANS - The Port of New Orleans (Port NOLA) is set to begin the due diligence process for a potential $1.5B multi-modal container terminal to serve the largest container vessels plying the Gulf of Mexico. Following unanimous approval of its Board of Commissioners, Port NOLA intends to acquire 1,100 acres of property in Violet, La., (St. Bernard Parish) and begin a two-year due diligence and permitting period. Three months ago, the Army Corps of Engineers launched a project to dredge the Mississippi River to a depth of 50 feet - from the GoM to Baton Rouge. Gov. John Bel Edwards said: “The Corps believes that work will pay for itself quickly by bringing larger vessels and more commerce to our state.” The St. Bernard Parish acreage will be acquired with consideration for a phased project that accommodates terminal operations, terminal access and egress traffic impacts, environmental issues and adjacent community needs. The property acquisition is expected to be completed by Dec. 31, which launches a due diligence and community engagement process commencing in early 2021. For project updates visit www.portnola.com/info/downriver.
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