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Bond Commission backs loan for coal port facility

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Posted: Nov 15, 2012 2:17 PM
Source: Associated Press

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Topics: Bond, Commission, Coal, Port

BATON ROUGE- An Ascension Parish coal port facility has received permission from state officials for a $130 million tax-exempt borrowing plan that will be used to expand the plant.

The Bond Commission approved the bond sale without objection Thursday, despite requests for postponement from New Orleans-based Alliance for Affordable Energy, which said the expansion would boost costs for customers of utility cooperatives.

Impala Warehousing LLC will use the money for improvements at its facility near Burnside to ship coal, primarily to international markets.

Trafigura Beheer BV, a Dutch trading company that owns Impala, says the Ascension Parish site will become a top coal and bulk logistics facility in the United States with the expansion.

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