The estimated CIP cost is $360 million, of which the federal government is responsible for $230 million. To date, the Port of Corpus Christi has transferred $78 million of its own funds to the Army Corps of Engineers, 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,” Strawbridge said.
The president’s FY 19 budget already included $13 million of funding for the CIP, which was appropriated by Congress in September.
Rep. Michael Cloud, R-Texas, said, “This $71-plus 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.”
Brokerage Compliance Symposium
The day before F3. Every compliance issue you face - fraud exposure, carrier liability, FMCSA rules, cargo theft, insurance gaps - navigated by attorneys and operators defining best practices in a changing industry.
F3 Awards Dinner
The night before F3. FreightTech100 companies honored. FreightTech 25 and Shipper of Choice winners revealed live. Cocktail reception into dinner and live music - 300 industry leaders in one purpose-built room.
F3: Future of Freight Festival
Industry-defining keynotes, rapid-fire technology demos, and industry leaders networking in experiences across Chattanooga - plus the inaugural F3 Awards Dinner featuring the FreightTech and Shipper of Choice reveals.
The day before F3. Every compliance issue you face - fraud exposure, carrier liability, FMCSA rules, cargo theft, insurance gaps - navigated by attorneys and operators defining best practices in a changing industry.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register NowThe night before F3. FreightTech100 companies honored. FreightTech 25 and Shipper of Choice winners revealed live. Cocktail reception into dinner and live music - 300 industry leaders in one purpose-built room.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register NowIndustry-defining keynotes, rapid-fire technology demos, and industry leaders networking in experiences across Chattanooga - plus the inaugural F3 Awards Dinner featuring the FreightTech and Shipper of Choice reveals.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register Now