The project to deepen the lower Mississippi River to the port of New Orleans form 45 feet to 50 feet has gotten underway. The deepening will allow heavier cargo ships to get more ag commodities out to market and is expected to be completed by the fall of 2021. Soy Transportation Coalition Executive Director Mike Steenhoek says the lower Mississippi River is an important route for soybean and other ag commodity exports.
He says the economic benefits of the project far exceed the $245 million cost.
Steenhoek says the basis for farmers will increase substantially with that export route getting more efficient.
Two of the phases of the project will be shared between the federal government and non-federal sources. The feds will pick up 75 percent of the cost while non-federal sources will pay 25 percent. The State of Louisiana has been designated as the obligated non federal entity.
