SOUTH POINT — The final piece of the funding puzzle has come through for a project that could transform the focus at The Point industrial park.

On Wednesday the Economic Development Administration awarded the project $2.9 million, which is about half of the funds needed to build a three-mile rail spur at the industrial park. That is Phase Two of the intermodal project that will allow the transportation of product from river to rail to roadway.

“The configuration is to move bulk items from rail to barge within the port, to bring a whole train on this spur,” Jeremy Clay, The Point director, said.

A train could be brought into The Point on the spur and emptied or loaded and sent back to the main line.

The entire project will cost approximately $5.6 million, with the remaining funding already in place. That is coming from a Logistics and Distribution Fund state loan with a forgivable grant.

“If we meet the objectives of the loan, it is converted to a grant,” Clay said. “We have to create so many man hours for construction and so many jobs after completion. It won’t be a problem to reach the goal.”

Construction is expected to begin this fall and should take eight months for completion.