NEW ORLEANS - The Port of South Louisiana (PortSL) announced July 28 it has concluded its due diligence of its proposed acquisition of the Avondale Global Gateway from terminal operator T. Parker Host, which moved its HQ to Jefferson Parish earlier this year.
In January, PortSL announced plans to buy the former Avondale Shipyard site from Host, which purchased the 254-acre site for $60M in 2018 from Huntington Ingalls.
Host said it invested $150M after the acquisition to bring the site back into commerce as Avondale Global Gateway.
The port said its team of experts is compiling findings into reports to be used to negotiate final terms of the acquisition. If agreed upon, the port will seek approval for financing from the State Bond Commission, possibly at its September meeting. (Port of South Louisiana 07/28/23)
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