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Port of Brownsville Nets BIH Project Loan

[ October 11, 2024   //   ]

The Texas Port of Brownsville said it has secured a low-interest US$43 million loan from the Texas Department of Transportation, or TXDOT, for its Brazos Island Harbor Channel Improvement (BIH) project.
The Ship Channel Improvement Revolving Fund, or SCIRF, loan provides the Port or Brownsville’s share of qualified costs necessary to deepen the BIH harbor deepening project.
The Texas Transportation Commission approved US$400 million in SCIRF loans for two projects near Beaumont and Brownsville, at its Sept. 26 meeting. The funding is the result of a bill passed in the 88th Legislature and signed by Texas Gov. Greg Abbott in 2023.
Comprised of two phases, is funded through the U.S. Army Corps of Engineer’s Public-Private Partnership (P3) with the Port of Brownsville and NextDecade Corp., Rio Grande LNG’s parent company.
“This infrastructure investment will strengthen the port’s competitive advantage as the leading maritime hub in South Texas and support economic development for the region,” said William Dietrich, port director and CEO.

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