NEW ORLEANS (AP) — A long-proposed offshore megaport at the end of the Mississippi River could start to take shape next year. Supporters of the project are hailing it as the most significant economic development in Louisiana history.
NOLA.com/The Times-Picayune’s Greg LaRose reports backers of the Louisiana International Deep Water Gulf Transportation Terminal announced Monday they have amassed enough private financing to begin the first phase of a $10 billion project.
The megaport is planned for 2,250 acres three miles off the coast of Plaquemines Parish, south of Venice. Approval from the U.S. Army Corps of Engineers and Coast Guard is necessary to begin construction, and developers say they will be applying for those permits soon. If approval is granted within an anticipated nine- to 12-month time frame, the first phase could be operational by late 2016.
