June 25, 2018 [Chron] - The Port of Corpus Christi on Tuesday approved borrowing $217 million to finance major improvements including deepening the port's ship channel.
The Port of Corpus Christi has been pushing for years to receive federal funds for its $327 million channel expansion project. The U.S. Army Corps of Engineers said another $23 million had been added to its 2018 work plan for the channel project.
The Trump Administration’s Fiscal Year 2019 budget for the corps had included $13 million for the port.
The project, when completed, would allow the port to bring in and fully load larger crude oil tankers, further boosting the port’s status as a leading crude oil exporter. Some of the largest crude oil tankers — the 1 million barrel Suezmax and 2 million barrel very large crude carriers — are only able to partially load in the port. They then finish loading in the Gulf of Mexico.
When complete most of the channel will be 530 feet wide and 54 feet deep.
—————————-
TankTerminals.com – Research, Market and Expand Your Presence within the Tank Storage Industry Learn more.
