The company proposing a $1.5 billion, 500-acre deepwater energy industry staging port in southwest Louisiana has selected Citigroup Global Markets Inc. as its financing manager for the project.
“With Citigroup’s expertise in bond financing and other capital funding programs, we are confident in securing the funds needed to move this project to construction and provide the offshore energy industry with a new deepwater port of choice in the western Gulf of Mexico,” said Lanis J. “Bud” Viator, executive chairman of Port Cameron LLC.
The first phase of construction will be on 500 acres in Cameron Parish on the Calcasieu Ship Channel, with 750 more acres available for future expansion. The first phase is scheduled to begin construction in November and be complete by third-quarter 2017, the company said last week. The company also said Fortune 500 real estate services firm JLL will lead leasing efforts for the facility.
The complex will serve the Gulf energy industry with marine access to offshore exploration and production facilities from 30 miles inland via the Calcasieu Ship Channel.