Re:  PA Completes Final Phase of Bridge Crane; Continues work with RBE Arkansas

 

HELENA-WEST HELENA-  In a short meeting of the Phillips County Port Authority Board of Directors on Monday, the board learned that the final phase of the bridge crane has been completed and that negotiations between RBE Arkansas, the authority’s largest potential prospect, and its financial backers continues.

 

Port Authority Executive Director Martin Chaffin told the Board that he had been on conference calls most of that morning with Rod Miller, the President of RBE, and the financiers.  He said, “We keep making headway.  Things still look good, but I told them that another extension on the land purchase would require additional earnest money.” 

 

RBE Arkansas has a business plan that calls for building a $1.8 billion facility at the Helena Slackwater Harbor that would produce food grade meal, alternative fuel, and fish pellets.  The plans also include a small power plant to help produce electricity for the facility.  An estimated 1000 jobs would be added for the four-year construction and completion of all phases of the facility should result in approximately 500 permanent jobs.

 

Chaffin added, “I still feel good about this project but because of the magnitude of the deal we must remain patient while all of the details in this next step are completed.  Once this is done, we have already started meeting with state economic development and environmental officials so that we can work to expedite those steps of the process.  We have the sales contract for the property signed.  Once his financial backers finish their negotiations with him, then the money will change hands.”

 

Chaffin also reported that E-Fuels, Inc. has 10.5 months to begin construction on the land that they have an option to lease.  Their plans called for the construction of a facility to produce biodiesel.  Also, two other industries made first contact during the past month.  However, those are in the very earliest stages of organization.

 

The Port Authority has also completed the final phase of the bridge crane.  Chaffin said, “With this final phase the crane now extends over the railroad at the harbor.  This allows us to do just about anything we could possibly need to do in moving cargo at the harbor from barge to truck or rail.  The completion of this very significant piece of infrastructure is a huge asset for the harbor, and I believe that it has already helped us with some of our current prospects and should increase interest in the future from other parties because we now have some of the best infrastructure possible for one of the best inland ports in the country.”

 

Chaffin concluded by saying, “We continue to make progress.  I am very optimistic about the Port’s prospect and the future economic development prospects at the harbor, which will affect Phillips County and the surrounding region.  We just need continued stability and cooperation, which we have been fortunate to have recently.  Phillips County is poised for some big developments.”