Port of Corpus Christi signs pact with Spanish firm to develop terminal

The Port of Corpus Christi plans to commit $83 million to develop a new container terminal along the Gulf Coast.

The Port of Corpus Christi is in negotiations with Dragados-S.P.L. in Madrid, Spain, toward a definitive construction and long-term concession agreement for the La Quinta Trade Gateway Container Terminal. The Port of Corpus Christi plans to secure the $83 million in funds from a range of sources, including project revenue bonds, state and federal grants, available cash, proceeds from the sale of general obligation bonds, private investors and federal loan programs.