A new wood pellet export facility is on the cards for the Port of Morehead City in North Carolina, US after the port signed an agreement deal with WoodFuels.
According to the terms of the agreement, WoodFuels would finance and build a $25 million (€18 million) export facility at the port to receive, store and load wood pellets for export to Europe, where they would be used as a renewable energy source.
Under the 20-year agreement, the facility would receive its first pellets for shipment in late 2014.
The deal was approved by the North Carolina State Ports Authority Board of Directors.
'This agreement is an example of our efforts to enhance our ports will ensure that North Carolina has the infrastructure in place to support growing industries,' says Secretary Tony Tata. 'This is the third multi-million dollar deal the ports have closed in the last eight months.'
Earlier this year the authority completed a deal with Enviva Holdings to build and operate a similar facility at the Port of Wilmington, which is scheduled to open in early 2015.