Riverside

Calhoun Port weighs $120M bond package for Matagorda channel expansion – Riverside, California

Riverside, California 2021-06-07 13:53:06 –

PORT LAVACA — The Calhoun Port Authority is considering issuing $ 120 million in bonds to pay for the docks and wharfs that are central to the plan to expand the Matagorda Ship Channel.

Port authorities are expected to discuss the benefits of bond packages and perhaps take action at a special and regular meeting on Wednesday.

In January, Port Lavaca’s major ports approved the start of a public-private partnership with Max Midstream. Invest $ 360 million in port planning to deepen and expand waterways By 2023.

The Port of Lavaca Point Comfort serves as a gateway to the global market in the Texas Midcoast region. The port supports Texas' chemical manufacturing industry and plays an important role in building a stable economic base in Calhoun County.

Max Midstream, a Houston-based energy company with a one-year history, acquired the Seahawk pipeline and terminal from Oaktree Capital in Port Lavaca in 2019.

Max Midstream connects the port directly to the Eagle Ford Basin and will soon connect to the Permian Basin, with plans to transport 20 million barrels a month when completed.

Port and company officials believe that expansion is important to make Port Lavaca’s main ports more competitive than the ports of Houston, Brownsville and Corpus Christi.

Calhoun Port weighs $120M bond package for Matagorda channel expansion Source link Calhoun Port weighs $120M bond package for Matagorda channel expansion

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