The Port of Corpus Christi has approved a $217 million finance package for a series of major improvements, including the Corpus Christ Ship Channel.
The package will allow the port to continue developing more terminals, rail and channel improvements needed to handle the growing oil and gas volumes from the region's large energy producing fields.
Part of the programme includes the deepening and widening of the Corpus Christi Ship Channel, which will be dredged to 54 feet to accommodate Suezmax and larger vessels. It will also be widened to 530 feet to allow for two-way traffic flows, positioning the port as the deepest draft navigation port in the US Gulf.
These enhancements are designed to handle the growing export volumes of US crude and natural gas, which have propelled the Port of Corpus Christi to what is now the largest energy export port in the US by volume.
Sean Strawbridge, CEO of the Port of Corpus Christi, says: 'We are pleased the commission approved this bond resolution and look forward to a successful round of financing. With the growth our customers are experiencing, coupled with our 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.'
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