North Carolina Ports approves wood pellet export facility at Morehead City

Sep 27, 2013 - US North Carolina State Ports Authority approved yesterday a deal with pellet manufacturer WoodFuels to develop and operate a USD-25-million (EUR 18.5m) export facility at Port of Morehead City for 20 years.

The facility will provide storage and loading of wood pellets destined to Europe's renewable energy sector. The first shipment is slated for late-2014.

After the initial operational year, annual revenue from the deal will range between USD 1.2 million and USD 2 million, North Carolina Ports said. The deal could result in average port operating revenue of USD 840,000. It is also expected to create at least 150 jobs.

The port authority will submit the contract for final approval by the Council of State at the latter's meeting in October 2013.

(USD 1.0 = EUR 0.741)

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