Maersk’s port operating company APM Terminals will build a $500m terminal in Louisiana, US after moving forward on a letter of intent with the Plaquemines Port Harbor and Terminal District.
The new container terminal on the West Bank of Plaquemines Parish will be built on land leased to APM under a 30-year agreement with initial investment including an on-dock rail, and a berth capable of handling 14,000 TEU ships, the largest able to travel through the Panama Canal.
Wim Lagaay, senior investment advisor to APM Terminals’ CEO, said: “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.”
Along with the first phase of development across 200 acres of land, the agreement includes options to expand the terminal and other logistics activities up to 900 acres.
The site would become the fifth terminal operated by APM in the US, and its 63rd globally, it has been in development for a number of years with APM and Plaquemines Port first signing the letter of intent in 2021.
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Charles D. Tillotson, executive director of Plaquemines Port, said the development would “truly make Plaquemines ‘The Louisiana Gateway Port’” while Port Commission Chairman Brian Champagne said it would greatly increase the global commerce flowing through the site.