TX - Will Calhoun Port Authority issue $120M in bonds for Matagorda channel expansion?
The Calhoun Port Authority is pondering issuing $120 million in bonds to pay for a dock and wharf that are central to its plans to widen the Matagorda Ship Channel.
PORT LAVACA — The Calhoun Port Authority is pondering issuing $120 million in bonds to pay for a dock and wharf that are central to its plans to widen the Matagorda Ship Channel.
The port authority is expected to discuss — and likely take action on — the merits of the bond package Wednesday during a special meeting and its regular meeting.
Port Lavaca's chief port in January approved starting up a public/private partnership with Max Midstream to invest $360 million into the port's plans to deepen and widen the channel by 2023.
Max Midstream, a year-old Houston-based energy company, acquired the Seahawk Pipeline and Terminal from Oaktree Capital at the Port Lavaca port in 2019.
Max Midstream has connected the port directly to the Eagle Ford Basin and will soon be connected to the Permian Basin, with plans to transport 20 million barrels a month upon completion.
Officials for both the port and the company believe expansion is crucial to making Port Lavaca's chief port more competitive with those in Houston, Brownsville and Corpus Christi, commonly viewed as preferable export hubs.