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Bonds authorized for Mississippi export project

By Staff | March 27, 2014

County supervisors in Jackson County, Miss., recently authorized a bond issue for up to $24 million for the construction of a pellet export facility at the Port of Pascagoula. Green Circle Bioenergy will use the site to export pellets produced at its proposed 500,000-ton-per-year pellet plant at the George County Industrial Park in Lucedale, Miss.


The expected cost of the export facility is $30 million. The state has committed $10 million to the project and the terminal operator will invest $5 million. The extra borrowing authority above the $15 million difference is considered on the high side to cover unanticipated needs.


According to Betty Ann White, the port’s manager of government affairs and public relations, construction of the export facility is expected to begin during the first half of this year, and be complete in 2015.
A $14 million grant from the U.S. Department of Transportation is also supporting rail improvements to serve the new facility.

 

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