Port companies in New Jersey and Switzerland have committed $800 million to build a $1.8 billion container facility in Louisiana.
The two global maritime companies are partnering with the state of Louisiana and the Port of New Orleans (Port NOLA) to build the Louisiana International Terminal in St. Bernard Parish in Violet, Louisiana, according to Gov. John Bel Edwards on Monday.
The new terminal will “dramatically increase” Louisiana’s import and export capacity, Edwards said.
The New Jersey-based Ports America and the Geneva, Switzerland-based Mediterranean Shipping Company invested $800 million through their terminal investment arm: Terminal Investment Limited (TiL).
“This public-private partnership with the Port of New Orleans, TiL and Ports America has the potential to become one of the most impactful economic development projects in our state’s history,” Edwards said in news release. “It leverages the economic power of our greatest natural resource—the Mississippi River—and enhances Louisiana’s ability to attract new investment from companies competing in the global marketplace. Access to global markets represents expanding opportunities for both urban and rural communities.”…