APM Terminals to Develop Container Terminal at Plaquemines Port
Plaquemines Port Harbor and Terminal District announced it signed a letter of intent (LOI) with APM Terminals (APMT) to build a container terminal on the West Bank of Plaquemines Parish, La.
Plaquemines Port will lease the land to APM under a 30-year agreement with extension options. APMT, one of the largest terminal operators in the world and is a subsidiary of shipping giant A.P. Moller-Maersk, 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.
According to Plaquemines Port, the new terminal will unlock 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.
Louisiana Governor Jeff Landry said, “APM Terminals is a world leader in container terminal operations. This major commitment shows the market’s tremendous confidence in Louisiana as the home of vibrant, growing port activity. Today's announcement is a direct investment into the businesses and industries that have built Louisiana, and I look forward to the major impact our ports will continue to have on job growth and the economy here in our state.”
“In time, this greenfield site has all the potential to evolve into one of the big ship gateways into the U.S.,” said Wim Lagaay, APM's Senior Investment Advisor to the CEO. “This venture allows us to build from the ground up, integrating cutting-edge technologies and sustainable practices to create a modern logistics hub that prioritizes safety, efficiency, and productivity. Our collaboration with the Plaquemines Port and local stakeholders is key to developing a facility that sets new industry standards and serves as a boon to the economic vitality of the region.”
Charles D. Tillotson, Executive Director of the Plaquemines Port, said, “This will truly make Plaquemines 'The Louisiana Gateway Port'. The geographic and strategic advantages are overwhelming.”
Brian Champagne, Port Commission Chairman, said, “This development agreement is a testament to the confidence that APMT has in Plaquemines' key advantages. It will greatly increase global commerce flowing through Louisiana.”
The project is fully supported by the host parish and community. As Plaquemines Parish President Keith Hinkley said, “We are completely united and excited about this transformative project. It will once again make Louisiana the Gulf's leading entryway to America.”