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Biofuels of Helena-West Helena,
Arkansas - June 2009 |
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For
Immediate Release
For
More Information
contact Martin
Chaffin at (870)
338-1418
Re:
Phillips County Port
Authority Meets;
Discusses Industrial
Prospects and Sales
Tax Renewal
HELENA-WEST HELENA-
At its regular
monthly meeting, the
Phillips County Port
Authority was
updated on the
status of the
various industrial
prospects interested
in the Helena Harbor
and the upcoming
campaign to renew
the sales tax that
supports the Port
Authority, county
government, and all
of the
municipalities.
Executive Director
Martin Chaffin
opened the meeting
with his monthly
report. RBE
Arkansas continues
to make progress on
putting together its
financial package to
finance construction
of its proposed $1.8
billion facility at
the Helena Harbor.
Chaffin said, “We
are in almost
constant contact
with Rod Miller and
his potential
financiers. It’s a
very complicated
deal involving lots
of potential
investors. The fact
this project is
still alive in this
economic climate
provides evidence to
support our
continued optimism
that this project
will come to
fruition.”
Chaffin also
reported that
Universe LLC, a
company that works
with scrap metal,
continued to work to
lease land at the
harbor for an
operation that would
ultimately produce
approximately 200
permanent jobs. He
said, “This is a
very good prospect
that is very
interested in our
site and is at the
stage where they are
evaluating the best
location in the
harbor. They need
about 40 acres for
their operation. We
are continuing to
work with them to
make sure they get
the information that
they need.”
Chaffin also
reported that
Contract Fabricators
from Mississippi had
put their planned
expansion on hold
until the economy
rebounds. However,
the firm remains
interested in the
Helena Harbor when
the economy begins
to strengthen.
In
other business, the
Port Authority Board
of Directors, along
with County Judge
Don Gentry,
discussed the
importance of
renewing the current
one-cent sales tax
to support the
harbor, county, and
cities. Gentry
said, “We have an
agreement among all
the entities. We
plan to have the
election in
October. It’s very
important that this
pass. If it
doesn’t, a lot of
people at the county
and Helena-West
Helena will be out
of a job, and the
county will have to
close the jail. If
it fails, the
smaller cities might
as well shut their
doors.”
Members of the Board
agreed that passage
of the tax is
essential to avoid a
calamity in local
government and a
crippling of
economic development
efforts.
Biofuels of Helena-West
Helena, Arkansas - April 2009
HELENA-WEST HELENA- At its regular monthly meeting, the Phillips County Port
Authority approved a lease with Mercer Inc. to unload pipe at the Helena Harbor
and heard updates from Director Martin Chaffin on the status of various industry
recruitment efforts.
Chaffin opened the meeting with a report on the progress being made by RBE
Arkansas on obtaining construction loans to build a $1.8 billion facility at the
Helena Harbor. Chaffin said, "The guarantees for the permanent financing are in
place. The obstacle continues to be getting the construction loans. Rod Miller
continues to work hard. He is aware that the current land option has expired,
and he is probably going to be in town next week with one of his potential
investors."
Chaffin continued, "I still feel good about the project. I have been involved
in several conference calls with the potential investors. Things are just very
tight in the credit markets right now."
Chaffin also had good news regarding a lease with Mercer Inc. to unload pipe
at the Helena Harbor for construction of the pipeline running from Northwest
Arkansas to Batesville, MS. He said, the lease on the land will bring in
approximately $90000 and calls for the unloading of 100 barges of pipe. The fees
to unload each pipe should generate approximately $400000 in revenue for the
Port Authority. Chaffin said, "We had to go out and get this business, but the
company realized last year that this was a good spot and this agreement is
better than the one we had with them a year ago."
Chaffin also updated the Port Authority Board on the status of other
prospects interested in the Helena Harbor. None of those prospects have made any
significant moves in the previous month.
In other business, the Board discussed the upcoming election for the renewal
of Phillips County’s one-cent sales tax. Currently, the Port Authority gets 20%
of that tax. The tax must be renewed by 2010. Current proposals being floated by
the cities and the county provide the Port Authority with no revenue going
forward, leading Board Chairman William Quiney to express concern about the
situation. Other Board members also expressed concern that some monies continue
to be allocated for the Port to continue economic development efforts.
Biofuels of Helena-West
Helena, Arkansas - March 2009
Miller Continues to Make Progress on Financing; Port in Close Contact with
Mississippi Firm HELENA-WEST HELENA- Despite the continuing credit crunch
nationally, RBE Arkansas continues to make progress on its financing package to
construct a $1.8 billion plant in the Helena Harbor.
While acknowledging that
the process has been slow, Executive Director Martin Chaffin remained upbeat
about the progress that RBE Arkansas and Rod Miller were making on the financing
package. He said, "I reviewed correspondence from one of the principal potential
lenders as recently as yesterday.
All parties involved continue to remain
positive about the project. We have $200,000 in case from Rod that shows his
personal commitment to the project's success. I continue to be hopeful and
optimistic about this project which could anchor our harbor and transform the
economy of the region."
Chaffin has also been in close contact with Contract
Fabricators out of Mississippi about constructing a facility at the Port
Authority. Chaffin has visited their Mississippi site personally and is working
with them to get the information needed by the Arkansas Department of Economic
Development so that it can develop an incentive package.
Completing his report
to the board, Chaffin also noted that negotiations continued with a group
wanting to construct a grain loading operation at the harbor. A draft lease
agreement has been submitted, but there are still some issues to be addressed
according to Chaffin.
Chaffin closed his report by saying he had some early
contacts with a firm that has three facilities that work primarily with scrap
metal. That company came to him as a result of the website, and he has started
visiting with them. The firm would need 40-50 acres and, if it chooses the
Helena Harbor, would employ about 40 workers initially with a potential for a
total of 200 jobs later.
Chaffin said, "We have a lot of interest in our
facility. I believe that things are going to turn out fine. It just takes a
while. This is a tough market, but I think we are in a good position."
Biofuels of Helena-West
Helena, Arkansas - February 2009
HELENA-WEST HELENA- The Helena-West Helena/ Phillips County Port Authority held its regular meeting Monday night and heard updates from Executive Director Martin Chaffin on the status of various prospects considering the Helena Harbor. Chaffin first updated the board on the status of Rod Miller's RBE Arkansas Project. Miller continues to work to put the final touches on the financing package for the proposed $1.8 billion facility in the Helena Harbor. Chaffin said, "We are moving slowly, but we are still moving forward. Banks are hesitant to make large loans in the current economic environment. Things are still going forward, and I remain optimistic. However, it's slow like molasses." Chaffin also reported that he met with representatives from Contract Fabricators in Holly Springs, Mississippi about their expansion plans and their interest in the Helena Harbor. Chaffin reported that they remain interested in the harbor. Chaffin also reported that the company is investigating the possible incentive packages that are going to be offered by the various states. Chaffin said that he was working to get the best deal possible to offer the company. He said, "I am working on getting all the data possible from them on this project, particularly in terms of the employment impact. They have requested some information on our community as well. We will do the best we can to recruit the expansion of this very solid company." Chaffin also reported that they are making progress with a grain loading firm. Engineer Jim Frazier has worked with the company to draw up a plan that doesn't conflict with the
long-term vision of the port. Frazier reported that he believes that the most recent plan works well for both parties. The Board gave Chaffin the authority to negotiate lease terms that would generate approximately $30000 per year for the Port Authority. Chaffin is also working with a pipeline company that wants to unload approximately 80 barges of pipe at the harbor using the bridge crane. The Board gave him permission to pursue an agreement with that firm as well. The Board also approved the financial report and voted unanimously to join the Chamber of Commerce. Port Treasurer Henry Richmond was recently selected to serve on the Chamber of Commerce Board of Directors as well, which is showing the growing cooperation between the two organizations.
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Biofuels of Helena-West
Helena, Arkansas - January 2009
HELENA-WEST HELENA- The Phillips County
Port Authority heard an update on the proposed $1.8 billion project planned
by RBE Arkansas at its regular monthly meeting on Monday.
Martin Chaffin reported that
representatives of RBE Arkansas continue to work with the potential
financiers on finalizing the terms of the first of three $600 million
construction loans to begin the project. Chaffin said, We have had
conversations with interested banks along with the foreign investors
interested in this project. We continue to get closer, and I continue
to feel good about this project.
Chaffin also reported that RBE officials
have continued to work on other fronts while the financing issues are
discussed. He said, I know that there have been meetings with
engineers and other professionals so that permitting and construction can
commence in an expeditious fashion almost immediately after the approval of
the financing package is obtained.
Chaffin also discussed other prospects
interested in the Helena Harbor. A German firm that makes Biofuels
from alternative raw materials has contacted Chaffin about building its next
American facility at the harbor. Discussions with that firm are still
in the early stages.
Contract Fabricators, a firm out of
Mississippi that has had ongoing discussions with the Port Authority for
several months about relocating to the Helena Harbor, continues to show
interest in the facility according to Chaffin. He said he would be
going to Mississippi to visit with company officials soon. The company
is looking for a location with river access. He said, They have been
impressed on their visits to our facility. The economic downturn has
probably slowed down things a bit. I look forward to visiting with
them about relocating to the Helena Harbor in the near future.
Chaffin also reported that a company
needing to load and unload grain is very interested in the harbor. The
firm has already worked with Chaffin and Port Board Member Jim Frazier on
some engineering designs to accomplish its objectives without hampering Port
Authority operations. Over 200 barges of grain annually would be
handled by the company according to its estimates. Chaffin said, I
believe we can work this out in a way that is mutually beneficial to both
sides. We have some undeveloped areas that can accommodate these
needs.
Board Member Henry Richmond presented the
financial report, which was unanimously accepted. The next meeting of
the Port Authority will occur on the fourth Monday in February.
FARKEL
RULES
Biofuels of Helena-West
Helena, Arkansas - November 2008
HELENA-WEST HELENA- Saying "we are closer than we have ever been," RBE
Arkansas's Rod Miller addressed the Phillips County Port Authority Board of
Directors at its regular monthly meeting Monday night.
Miller came to give the Board a status report on his
efforts to get financing in place to begin construction on the proposed $1.8
billion project that features the manufacture of food-grade products with the
byproducts being used for alternative fuel production and animal feed.
He said, "We have a source for permanent financing
guaranteed. We now have to get the bridge financing for construction in
place. We are farther along than we have ever been."
Miller also added that the changes in the market are
requiring changes in the approach to obtaining construction financing. He
said, "It has been suggested to me that I approach the bankers of some of the
construction companies that need jobs and are interested in this project.
It is possible that everyone could benefit in this kind of deal. Big
companies now need work thanks to the economic downturn and their banks need
good projects."
Port Authority Executive Director Martin Chaffin added,
"The economy has really changed banking practices. There remain
opportunities with foreign and domestic banks."
In other business, Chaffin added that talks continue with
a steel fabricator from Mississippi that is interested in a site at the Helena
Harbor. He also updated the Port Authority on the discussions related to the
continued unloading of pipeline at the harbor. Construction of one
pipeline is already progressing through the area and another is anticipated for
a similar route in approximately 2010.
Chaffin also updated the board on the repair of the
bridge crane. He said, "The crane is working. However, there remain
some issues to be resolved with our insurance company." The crane
was damaged in a storm back in the spring that resulted in some heavy damage in
portions of the county.
The Board agreed not to hold a December meeting, which
has been the practice in years past. If any issues arise dealing with RBE,
a special meeting will be called and the media will be notified.
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Biofuels are any
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HELENA-WEST HELENA- The Phillips County Port
Authority held its monthly meeting Monday night and heard reports from
Executive Director Martin Chaffin and voted to reestablish its financial
relationship with the Phillips County Chamber of Commerce.
Executive Director Martin Chaffin reported that RGM
Marketing continues to make progress on its plan to build a $1.6 billion
food processing and biofuel facility. Chaffin unveiled engineering
drawings showing where the different components of the plant located.
He also reported that the company’s bankers had visited the site.
Chaffin talked about the potential impact of the
facility on the harbor saying, “This project has the potential to make
this harbor one of the largest inland ports in North America.” When
completed, the facility will require 17 barges and four unit trains of
raw materials per day with an additional four unit trains of coal per
week. The company is currently working out some insurance issues for
its lenders.
The Port also heard a report from Billy Ray, the
Interim Director of the Phillips County Chamber of Commerce. Ray
updated the group on the Chamber’s Community Development activities,
which include the upcoming recertification of Helena-West Helena as an
Arkansas Community of Excellence.
Ray also noted his desire to repair the
relationship with the Port Authority. He said, “We want to work
together and do things to complement the work of the Port. I think we
can be an asset to each other.”
The Board went on to approve financial support for
the Chamber in the amount of $1000 per month. Chaffin added, “I think
we can work together. Community development is very important and Billy
is doing an excellent job in that area. I look forward to working with
him.”
Chaffin also reported to the Board that E-Fuels
Inc. of Nevada is continuing to work on a financing package and is
exploring the use of some more environmentally-friendly biodiesel
technology used by some California companies.
The Board also decided to let some land options
expire in order to keep land available for more serious prospects and is
considering potential offers from some wanting to use some port
facilities to receive supplies for building a natural gas pipeline.
For More Information
contact Martin Chaffin @ (870) 338-1418
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