The two parties started discussions on APM Terminals taking over the terminal operations in May this year. They were in a formal discussion phase whereby both parties committed to conducting multiple studies prior to making a final investment decision.
Under the new deal, PPHTD and its financial partners will manage the financial activities associated with the infrastructure development, investment, and ownership of the port.
The facility, which is in the early stages of development, is located on the Mississippi River just 50 nautical miles from the Gulf of Mexico. The terminal will be environmentally-friendly, powered by a combination of natural gas and electricity, encompassing up to 1,000 acres and 8,200 feet of Mississippi River frontage.
