Riverside, California 2021-06-07 13:53:06 –
PORT LAVACA — The Calhoun Port Authority is considering issuing $ 120 million in bonds to pay for the docks and wharfs that are central to the plan to expand the Matagorda Ship Channel.
Port authorities are expected to discuss the benefits of bond packages and perhaps take action at a special and regular meeting on Wednesday.
In January, Port Lavaca’s major ports approved the start of a public-private partnership with Max Midstream. Invest $ 360 million in port planning to deepen and expand waterways By 2023.
Max Midstream, a Houston-based energy company with a one-year history, acquired the Seahawk pipeline and terminal from Oaktree Capital in Port Lavaca in 2019.
Max Midstream connects the port directly to the Eagle Ford Basin and will soon connect to the Permian Basin, with plans to transport 20 million barrels a month when completed.
Port and company officials believe that expansion is important to make Port Lavaca’s main ports more competitive than the ports of Houston, Brownsville and Corpus Christi.
The current composition of the Port La Baka port (38 feet deep and 200 feet wide) is too shallow and too narrow to safely pass Aframax and Suezmax vessels.
The passage of the Water Resources Development Act in Washington last year may have rekindled long-standing debates about the expansion of ports that serve as gateways to the global market in the central Texas coast. The Matagorda Ship Channel and the Gulf Intracoastal Waterway also play an important role in supporting Texas chemical manufacturing while providing services.
The Army Corps of Engineers’ report on the Matagorda Ship Route Improvement Project was signed in November 2019. It requires the harbor to d to a depth of 47 feet and extend to 300 feet.
Meanwhile, zones have been set up to allow Max Midstream to move materials through weight reduction. This process requires the cargo to be transported to a larger offshore Panamax vessel.
Construction will begin in 2022 and is expected to be completed by 2023, but some preliminary engineering and design work has already begun.
Chris Ramirez writes about energy, commerce and business. Check out our subscription options and special offers at Caller.com/subscribe to support coverage in these areas.
Calhoun Port weighs $120M bond package for Matagorda channel expansion Source link Calhoun Port weighs $120M bond package for Matagorda channel expansion