By LEONARD GRAY / L’Observateur / April 19, 1999

LAPLACE – Final approval of a $65 million revenue bond sale for TransContinental Refining in Norco was granted Tuesday by the South Louisiana Port Commission, just in time for the State Bond Commission’s meeting Thursday.

Glenn McGinnis, president of TransContinental Refining, which rehabilitated the former Good Hope Refinery, reported the facility is now producing 145,000 gallons of oil per day.

Completion of that rehabilitation work is due to be completed this fall, McGinnis said.

In other activity, executive director Gary LaGrange reported on an April 1 Journal of Commerce article which interviewed him on the Port of South Louisiana’s role in grain exports.

LaGrange pointed out in that article that the port is the nation’s largest grain exporter, with 64 percent of the national total.

A total of 37 percent of that grain export is going to Japan, LaGrange added.

He continued, though, that the port anticipates losing up to 8 percent of its grain market with Japan to the Pacific Northwest ports, but the transportation network and connections already in place at the Port of South Louisiana cannot be matched.

The article pointed out that Portland, Ore., is the leader in grain tradeamong the Pacific Northwest ports.

Portland reached 3.8 million tons of grain exports in 1998, an increaseover 1997 of 5.6 percent. To compare, during 1997, the Port of SouthLouisiana moved 56.6 million tons of grain.One of the largest exporters in the PSL is Zen-Noh Grain of Convent, which exports 10 to 12 million tons each year.

In other activity, the Port Commission approved a proposal from CRA Services of Baton Rouge for environmental engineering services for the Globalplex wastewater treatment facility, at a price tag of $22,073.

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