Louisiana State Bond Commission approves $1.25 billion tax-exempt bonds for five BioNitrogen plants

April 25, 2013 |

In Florida, BioNitrogen reports that the Louisiana State Bond Commission, which is composed of the Governor, Lieutenant Governor, Attorney General, State Treasurer and other high ranking state and legislative officials, has approved $1.25 billion in tax-exempt bonds for the acquisition, development and construction of five plants in Pointe Coupee Parish, Louisiana.

The Louisiana Community Development Authority granted preliminary approval earlier this year. The proposed five plants are projected to produce 1,800 tons of urea daily or 621,000 tons of urea annually. In February, BioNitrogen received approval from the Florida Governor to issue up to $175 million of tax-exempt bonds for the construction of the Hardee County plant.

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