28.05.2019
Artikel Nummer: 27864
Starting shot for CIP in Corpus Christi
On 29 May 2019, the port of Corpus Christi is to celebrate the start of its ship channel improvement project (CIP). After a 40 year ban on crude oil exports, the port was able to handle the export of the first shipment of US crude oil in December 2015.
Three years later, the Texan port went from zero crude exports to exporting USD 10.8 billion worth of crude oil to US trading partners, contributing to the offset of the USA's trade deficit.
The whole CIP project is estimated to cost USD 360 million, USD 230 million of which will come from the country's federal government. The port is responsible for the remaining USD 130 million. (cd)