Posted: Nov 13, 2012 2:08 PM
Source: Associated Press
BATON ROUGE- The Port of Greater Baton Rouge is considering whether to terminate the lease of a start-up company that was going to dry and sort sand at the port's Inland Rivers Marine Terminal in Port Allen.
The $10 million facility, which was going to prepare sand to barge out for use by oil and gas companies drilling in domestic markets, will not be built after Alabama-based GNS Frac LLC told the port it lost its primary investor.
Port Director Jay Hardman said plummeting natural gas prices dimmed the facility's prospects. He said letting GNS Frac out of the lease will allow the port to market the 24-acre property.
The port's governing commission meets on Thursday.