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IFG Port Holdings Investing $59.5M in Louisiana Grain Export Terminal

03/31/2011
IFG Port Holdings will establish a new export grain terminal at the Port of Lake Charles in Louisiana. The facility will be the first of its kind built in the Gulf Coast region in approximately 25 years. IFG will invest $59.5 million and create at least 36 new jobs.

"This will be the first new export grain terminal developed in the state of Louisiana in over 25 years and will connect Southwest Louisiana to the nation's grain export system, making the Port of Lake Charles a premier export point for grains," said IFG CEO Kabir Ahmad. "Through the development of enhanced rail capacity, the port will be better equipped to compete amongst the nation's ports. The facility will create good jobs and help IFG achieve our long-term goal of developing a global supply-chain for grains and agricultural products."

Once complete, the terminal will handle agricultural products such as rice, wheat, corn, soybeans, and dried distillers grain to ship overseas. Goods will come from points around the United States. The facility is expected to boost U.S. agricultural exports through Southwest Louisiana.

Union Pacific Railroad will invest $6 million towards rail infrastructure improvements. The project includes an improved rail connection to the forthcoming facility's new bulk grain elevator.

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