Port Corpus Christi Commissioners soon unanimously approved a protracted-term lease agreement with voestalpine. Last month, voestalpine said hello had selected the main harbour’s La Quinta property, including 475 acres of upland property and 11 acres of submerged land, to build up a Hot Briquetted Iron (HBI) plant and 1,060 foot long dock for unloading iron ore pellets and loading HBI.The corporation will invest US$700 million within the project, the Austrian steelmaker said inside a statement. The planned direct reduction plant will produce feedstock for steel production and stay fueled by propane.
Corpus Christi along with the U.S. Corps of Engineers will fund and extend the La Quinta Ship Channel towards site from the La Quinta Trade Gateway. The lease runs for half a century.