Plaquemines Port and APM Terminals unveil partnership to develop major container terminal
Plaquemines Port Harbor and Terminal District (Plaquemines Port) announces the execution of a letter of intent with APM Terminals to build a state-of-the-art container terminal on the West Bank of Plaquemines Parish, Louisiana, United States, according to the company's release.
APM Teriminals is one of the largest terminal operators in the world and part of A.P. Moller-Maersk, a global leader in logistics services. APM Terminals currently operates four container terminals in the U.S and 62 globally.
The new terminal holds significant potential to enable new business west of the Mississippi River, allowing for new markets of import and export cargos while continuing to grow the various existing Louisiana markets. It will be the port closest to the mouth of the river (3 hours longer round trip to nearest proposed terminal); with the widest ship turning radius.
Plaquemines Port will lease the land to APM Terminals under a 30-year agreement with extension options. APM Terminals estimates the initial investment in terminal infrastructure will be approximately $500 million, which will be privately funded.
The initial phase will encompass 200 acres, on-dock rail, and a berth capable of handling the largest ships now traversing the expanded Panama Canal (14,000 TEU).
There will be options to expand the site up to 900 acres for terminal expansion and complementary logistics activities.
