Aug. 21, Texas Speaker of the House Dade Phelan thanked the Texas Transportation Commission for approving the Sabine Neches Navigation District’s application for a loan from the Ship Channel Improvement Revolving Fund (SCIRF). The loan will reportedly help finance the deepening of the SabineNeches Waterway from 40 feet to 48 feet, allowing larger ships to reach local ports, improving vessel waterway traffic management and enhancing the competitiveness of Southeast Texas ports.
“Texas ports and waterways are the backbone of our state’s thriving economy, with the Sabine-Neches Waterway alone generating billions of dollars in revenue and supporting hundreds of thousands of permanent jobs,” said Phelan. “Home to the Port of Beaumont and Port of Port Arthur, this waterway plays a key role in America’s energy and military transportation network, making it essential that it receives the support and resources to remain a leader in the global marketplace.
Approval of the SCIRF loan will allow waterway administrators to undertake long-needed improvements and enhance crucial infrastructure to contin- ue attracting growth and opportunities, Phelan explained.
“Speaker Phelan’s support for the Sabine-Neches Waterway has been critical to our ability to move forward with the improvement project, which will bring over 500,000 permanent jobs to the region,” said Sabine Neches Navigation CEO Randall Reese. “His leadership to help in the creation and funding for the TxDOT loan will save the taxpayers of Jefferson County millions of dollars compared to obtaining the financing through other markets.”
Texas Ports Association (TPA) Executive Director and CEO Glenna Bruun noted Texas ports are critical catalysts for the economic success of our state and advancement of our local communities – true gateways to the world.
Last month, Phelan sent a letter to the Texas Transportation Commission chairman, encouraging approval of the Sabine Neches Navigation District’s application as the Sabine-Neches Waterway is the third-largest waterway by tonnage and the largest liquid bulk cargo waterway in the nation.
The SCIRF was created by the Texas Legislature in 2015 to enhance the funding capabilities of entities responsible for the local share of qualified project costs; however, the fund was never capitalized. Last session, Phelan led efforts to capitalize the fund with $400 million for port projects such as the one proposed by the Sabine Neches Navigation District, and also helped secure a historic $600 million investment for maritime port infrastructure projects.