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Transactions - OCTOBER 5, 2022

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PRP/KDC JV to build Gulf Coast hub for Volkswagen Group of America

by Released

PRP has formed a joint venture with KDC of Dallas to build the new Gulf Coast Vehicle Terminal for Volkswagen Group of America (VWGoA).

The new Gulf Coast hub, once completed, will sit on 120 acres in Freeport, Texas. The project is expected to break ground in October and will be operational in early 2024. Total project cost is estimated to be $114 million.

The new hub will consolidate VWGoA’s current port operations in Houston and Midlothian. When completed, the facility will include several service buildings totaling more than 200,000 square feet and asphalt parking for over 16,000 vehicles, trucks and railcars. The property will enable Volkswagen to import approximately 140,000 vehicles per year from its production hubs in Mexico and Europe, serving nearly 300 retail dealers in the United States. The new hub will also allow utilization of low-emission LNG vessels, supporting Volkswagen’s goal to improve the environmental footprint of its global logistics and enh

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