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    Home»Bonds»Port of Beaumont issues $382M in revenue bonds
    Bonds

    Port of Beaumont issues $382M in revenue bonds

    July 23, 2024


    The Port of Beaumont and Jefferson Energy Companies, a subsidiary of FTAI Infrastructure, announced July 9 a strategic partnership to develop Jefferson Terminal South, a “state-of-the-art blue ammonia facility that will enhance the region’s ability to produce and transport clean energy.” 

    The effort marks major expansion for the Port of Beaumont and is anticipated to drive economic growth and strengthen Southeast Texas’ position as a key player in the sustainable energy sector, according to the port’s stated position on the upgrade. 

    Construction of the new Port of Beaumont dock at Jefferson Terminal South has commenced and is expected to be complete by mid-2025. 

    As part of the partnership, the Port of Beaumont issued $382 million in facility revenue bonds and purchased 51 acres of waterfront property for development of the new terminal, which includes construction of one deep draft berth, with plans for future expansion, the port announced. 

    Blue ammonia, which is produced using natural gas with carbon capture technology, is touted as playing a significant role in the national transition to cleaner energy sources. 

    The Jefferson Terminal South project is expected to attract substantial investment and contribute to the region’s longterm economic stability. This facility will be the second Jefferson EnergyPort of Beaumont partnership, the first being the 250-acre Jefferson Main Terminal in Orange, which opened in 2012. 

    “What started as a $60 million port investment at the Jefferson Main Terminal has turned into a $1 billion publicprivate partnership that has created over 200 jobs over the last 12 years,” Port Director Chris Fisher said, further stating his confidence in the new partnership at Jefferson South Terminal yielding similar results. 

    “Our partnership with Jefferson highlights our commitment to enhancing the region’s infrastructure and advancing the clean hydrogen ecosystem in Texas,” Port of Beaumont Board of Commissioners President David Willard. “According to the U.S. Department of Energy Hydrogen Program, clean hydrogen in the United States has the potential to decrease economy-wide emissions by 10% over the next 25 years, create 100,000-plus jobs, and support 450,000 cumulative job-years through 2030. 

    “We believe that if you aren’t moving forward, you are falling behind.”



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