Posted on January 17, 2024
APMT announced the execution of a letter of intent for the terminal with the Plaquemines Port Harbour and Terminal District (Plaquemines Port), which had selected AMPT to operate the planned deepwater terminal.
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. There will be options to expand the site up to 900 acres for terminal expansion and complementary logistics activities.
“In time, this greenfield site has all the potential to evolve into one of the big ship gateways into the US,” said Wim Lagaay, APM Terminals’ 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 lifts standards of 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.”
“This will truly make Plaquemines ‘The Louisiana Gateway Port’. The geographic and strategic advantages are overwhelming,” said Charles D. Tillotson, Executive Director of the Plaquemines Port.