The Louisiana Community Development Authority (LCDA) has granted preliminary approval of the issuance of up to $1.25 billion in tax-exempt bonds to BioNitrogen Louisiana Holdings LLC, a unit of BioNitrogen Corp., Doral, Fla., for the acquisition, development, and construction of five biomass-to-urea plants in Pointe Coupee Parish, La. The LCDA’s action clears the way for the company to proceed to the Louisiana State Bond Commission for approval.
BioNitrogen also signed a letter of intent to purchase approximately 250 acres of land in Pointe Coupee Parish for the construction of the plants. The land, which is adjacent to the Lettsworth Port owned by the Pointe Coupee Port Commission, is located 65 miles north of Baton Rouge on the Lower Old River, a tributary connecting the Red River and the Mississippi River west of the Old River Lock.
BioNitrogen intends to contract KBR to engineer and construct the five plants on the land, which will be built in parallel with the Hardee County facilities in Florida. The proposed five plants are projected to produce up to 621,000 st/y of urea.
More details will come in the Green Markets Web Edition March 1.