Sea Point LLC Awards Contracts for New Container Terminal in Louisiana

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Researched by Industrialinfo.com (Industrial Information Resources Incorporated; Houston, Texas). Sea Point LLC (New Orleans, Louisiana) has awarded the engineering contract to URS Corporation (New Orleans, Louisiana) and the general construction contract to Boh Bros Construction Company LLC (New Orleans, Louisiana) for a new container terminal to be constructed in Venice, Louisiana.

Plans are to construct a $150 million container transfer station on Coast Guard Road in Venice, Louisiana, twelve miles above Head of Passes on the Mississippi River. The container transfer station is being built to move containers between ships and river barges, in order to improve cargo movement along the inland water system to ports, railways, and interstate connections.

The pile-supported platform will be located adjacent to a 3,100-foot river front property recently acquired by Sea Point. Design is currently underway for the proposed container terminal. The new container terminal will also involve the installation of eight gantry cranes. Construction is anticipated to begin in June 2005, with overall completion slated for Spring 2007.

Sea Point is the solution for the short and long term future of the container transport market in the Louisiana. It will provide the ocean carrier with a low-cost distribution hub, putting the ship's cargo at multiple terminal destinations. Currently, Louisiana has had no container growth during the last fourteen years, while ports such as Houston and Miami have more than doubled their container traffic.

Container ships in New Orleans are currently served by only one terminal. The Millennium Port Authority has unanimously recommended Sea Point as part of the first phase of the Millennium Port development and anticipates that operations will begin in two years. Sea Point meets the Millennium Port Feasibility Study location criteria of gaining the largest possible container market share for Louisiana. Using Louisiana's greatest resource, the Mississippi River, Sea Point can empower each of Louisiana's 26 ports to offer container service.

The new container terminal is expected to improve container transportation for the growth of new and existing businesses, creating more than 18,000 jobs and generating $2.9 billion in annual economic impact during eight years of operating. Sea Point is also expected to generate more than $39 million in annual state tax revenue and nearly $31 million in annual local tax revenue during ten years of operating.

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