Coal Terminal To Get State Bonds
BATON ROUGE, La. (AP) — The LouisianaPublic Facilities Authority board of trustees has given preliminary approval for $130 million in tax-exempt bonds that will help Impala Warehousing LLC turn its Burnside terminal into one of the country’s top coal export sites.
Although Impala is a for-profit company, Martin Walke, vice president of economic development for the LPFA, tells The Advocate the port projects qualify for tax-exempt bonds under state law.
Impala bought the Burnside terminal in June 2011 for $28 million. The improvements will give the terminal the capacity to ship 10 million tons of coal, primarily to international markets. Impala is also expected to create 100 permanent jobs at the terminal.