The M/V Cameron II ferry in Cameron Parish
Source: Credit to the Louisiana Department of Development and Transportation
| Project Name | Cameron Parish Ferry Project and Rural Bridge Program |
|---|---|
| Location | Cameron Parish, Louisiana and rural areas of central and southern Louisiana |
| Project Sponsor/Borrower | Louisiana State Bond Commission and Louisiana Department of Transportation and Development (LADOTD) |
| Program Areas |
|
| Mode | Bridge, Ferry |
| Description | The U.S. Department of Transportation’s (DOT) Build America Bureau (BAB) granted $38.9 million in low-interest Transportation Infrastructure Finance and Innovation Act (TIFIA) loans to the Louisiana State Bond Commission for the benefit of the Louisiana Department of Transportation and Development (LADOTD). The project scope includes the replacement of a nearly 60-year-old vessel with the design and construction of two hybrid diesel-electric ferries. Each ferry can carry approximately 35 cars, 6 semi-trucks, and 500 passengers across the 1,000-foot Calcasieu Ship Channel. Cameron Parish has a significant oil and gas industry presence and is a popular destination for outdoor enthusiasts. Allowing ferry service to all vehicles, especially larger commercial vehicles, supports the area’s economic development objectives. The only alternative to a ferry is a drive of more than two hours. LADOTD approved $56.9 million for the two ferries, construction of which is expected to be completed in mid-2025. TIFIA loan proceeds will also finance the replacement of 11 structurally deficient bridges in rural areas across six different parishes through central and eastern Louisiana, as part of Louisiana’s Statewide Bridge Program totaling $65.4 million. The bridges to be replaced include:
|
| Cost (millions) | $122.3M |
| Funding Sources | Cameron Ferry Project: $56.9M Structurally Deficient Bridge Replacements: $65.4M |
| Project Delivery / Contract Method | Design-bid-build |
| Private Partner | Ferry Design: Elliott Bay Design Group |
| Project Advisors / Consultants | To LADOTD:
To USDOT Build America Bureau:
|
| Lenders | USDOT Build America Bureau |
| Duration / Status | Credit Agreement Executed: November 3, 2022. Both the Cameron Parish Ferry Project and the Bridge Program are estimated to be completed in 2025. |
| TIFIA Credit Assistance | $38.9 million The two TIFIA loans totaling $38.9 million are the fifth and sixth TIFIA loans that Louisiana has closed as part of a bundled approach, which allows for more efficient processing and expedient closing. |
| Financial Status/Financial Performance | Closed in FY2023 |
| Innovations | The two new hybrid-electric ferries will help reduce greenhouse gases by using battery-powered electric thrusters. The batteries will be charged by diesel generators on board but can be upgraded to fully electric in the future. Additionally, the projects qualified for the Rural Project Initiative, which offer loans for up to 49% of the project’s eligible costs, as well as fixed interest rates that are half the U.S. Treasury rate. |
| Related Links / Articles | |
| Contacts | Borrower: Sponsor: |
