Lake Charles Port Expecting Losses
LAKE CHARLES, La. (AP) — The Port of Lake Charles expects an operating loss of $4.5 million for 2013 and that losses will continues into 2014.
But a port official tells The American Press (http://bit.ly/cseYHv ) hat the port views the losses investments that will turn into substantial revenue over the next three years.
The 2013 budget was presented at a port's committee meeting earlier this week.
Director of administration and finance Richert Self said the port will be ramping up in 2013 and 2014 with significant expenses tied to several major projects.
Among them are Leucadia's Lake Charles Clean Energy facility — next to the port's bulk cargo handling facility — and the IFG bulk grain terminal at the City Docks.
Information from: American Press, http://www.americanpress.com