Port of Corpus Christi Secures $59 million in Additional Funding for the Channel Improvement Project
Nov 26, 2018
Corpus Christi, TX, USA – The U.S. Army Corps of Engineers (USACE) announced its Fiscal Year (FY) 2019 Work Plan, which includes an additional $59 million in funding for the Corpus Christi Ship Channel Improvement Project (CIP). This funding brings the total Federal appropriations for the CIP to $95 million. The estimated CIP cost is $360 million, of which the federal government is responsible for $230 million, while the Port of Corpus Christi is responsible for the remaining $130 million. To date, the Port of Corpus Christi has transferred $78 million of its own funds to the USACE, bringing the total CIP funding level to $173 million.
“The inclusion of additional Work Plan funds is yet another significant milestone toward the United States becoming a net exporter of its energy production,” said Sean Strawbridge, Chief Executive Officer for the Port of Corpus Christi. “Widening and deepening the Corpus Christi Ship Channel is a mathematical certainty. Energy markets are taking notice as the majority of incremental U.S. energy production is coming to Corpus Christi and ultimately to the global markets. We expect over two to three million barrels per day of new crude production coming our way, and our energy producing and marketing customers know we are building out all the necessary infrastructure to handle these new volumes, safely and responsibly.”
Charles W. Zahn, Chairman for the Port of Corpus Christi Commission, said, “This news is extremely exciting, and we owe a great deal of gratitude to our supportive congressional delegation, including Texas Senators Cornyn and Cruz, U.S. Representative Michael Cloud of our Congressional District 27, and of course, the Administration for its endless support.”
The FY ’19 President’s Budget already included $13 million of funding for the CIP, which was appropriated by Congress in September.
“This $71+ million in combined Army Corps Work Plan and Budget funding will be a huge benefit not only to jobs across our part of Texas but to the security of America and our allies, and I am thrilled we were able to make this happen,” said Congressman Michael Cloud. “I was honored to make the case for the Port of Corpus Christi and thankful President Trump recognized the importance of the Port’s Channel Improvement Project. I commend the Port Commissioners under the leadership of Chairman Charles Zahn, and the Port staff under the direction of CEO Sean Strawbridge and Executive Director John LaRue, for their tireless efforts on this project.”
About Port Corpus Christi
As the leading U.S. crude oil export port and a major economic engine of Texas and the nation, Port Corpus Christi is the 4th largest port in the United States in total tonnage. Strategically located on the western Gulf of Mexico with a 36-mile, 47-foot-deep (MLLW) channel, Port Corpus Christi is a major gateway to international and domestic maritime commerce. The Port has excellent railroad and highway network connectivity via three North American Class-1 railroads and two major interstate highways. With an outstanding staff overseen by its seven-member commission, Port Corpus Christi is “Moving America’s Energy.” http://www.portcorpuschristi.com/
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