South La. port to buy Avondale site

AVONDALE, La. - The former Avondale shipyard may soon get a new owner. The Port of South Louisiana announced Jan. 12 they have entered into a Purchase and Sale Agreement with Virginia-based T. Parker Host for the 254-acre Avondale Global Gateway (AGG). The public-private partnership agreement means the port will buy the site for $445M. The port is focused on expanding operations and bringing prosperity back to the SE Louisiana region, according to Paul Matthews, Port of South Louisiana CEO. T. Parker Host will continue as terminal operator.  The acquisition will set the stage for new developments at the waterfront industrial park and serve as a catalyst for economic activity across the region, according to Jefferson Parish President Cynthia Lee Sheng. Host purchased the shipyard from Huntington Ingalls in 2018 for $60M and then invested $150M into the shipyard, which sat idle since 2014. (WWL 01/12/23) Port of South Louisiana agrees to buy former Avondale shipyard for $445M | wwltv.com