The Port of Corpus Christi has secured an additional USD 59 million in funding for the Corpus Christi Ship Channel Improvement Project (CIP).
The funding, unveiled in U.S. Army Corps of Engineers’ Fiscal Year 2019 Work Plan, brings the total Federal appropriations for the project to USD 95 million.
The estimated CIP cost is USD 360 million, of which the federal government is responsible for USD 230 million, while the Port of Corpus Christi is responsible for the remaining USD 130 million. To date, the Port of Corpus Christi has transferred USD 78 million of its own funds to the USACE, bringing the total CIP funding level to USD 173 million.
“The inclusion of additional Work Plan funds is yet another significant milestone toward the United States becoming a net exporter of its energy production,” said Sean Strawbridge, Chief Executive Officer for the Port of Corpus Christi.
“Widening and deepening the Corpus Christi Ship Channel is a mathematical certainty. Energy markets are taking notice as the majority of incremental U.S. energy production is coming to Corpus Christi and ultimately to the global markets. We expect over two to three million barrels per day of new crude production coming our way, and our energy producing and marketing customers know we are building out all the necessary infrastructure to handle these new volumes, safely and responsibly.”
The USACE Fiscal Year 2019 Work Plan also provided funds for the Charleston Harbor Deepening Project and the Jacksonville Harbor deep draft navigation project. Namely, US would provide an additional USD 41.4 million to deepen the Charleston Harbor to 52 feet, while Jacksonville Port Authority received an additional USD 46 million for its 47-foot deepening improvement project.