SEVERE WX: Tornado Watch View Alerts

Partners to buy SC wood pellet plant, build Mississippi port

A company that makes wood pellets and sells them to power plants overseas says it's forming a new joint venture with an insurance company to buy a plant in South Carolina and build a port in Mississippi.

Posted: Jan. 2, 2018 2:13 PM

BETHESDA, Md. (AP) — A company that makes wood pellets and sells them to power plants overseas says it's forming a new joint venture with an insurance company to buy a plant in South Carolina and build a port in Mississippi.

Scroll for more content...

Enviva Holdings of Bethesda, Maryland, on Tuesday announced the deal with the John Hancock Life Insurance Co.

The joint venture will buy a wood pellet plant in Greenwood, South Carolina from Navigator Co. SA, a Portuguese paper company. Terms weren't disclosed. Navigator opened the plant in 2016, and Enviva says it will increase production.

The joint venture will also build a port terminal in Pascagoula, Mississippi, and plans to build two more pellet plants.

A previous joint venture between the two will keep ownership of a plant being built in Hamlet, North Carolina.

Related Content

Article Comments

Tupelo
Scattered Clouds
87° wxIcon
Hi: 93° Lo: 75°
Feels Like: 101°
Columbus
Scattered Clouds
87° wxIcon
Hi: 91° Lo: 73°
Feels Like: 104°
Oxford
Clear
84° wxIcon
Hi: 94° Lo: 72°
Feels Like: 96°
Starkville
Clear
82° wxIcon
Hi: 92° Lo: 73°
Feels Like: 92°
WTVA Radar
WTVA Temperatures
WTVA Severe Weather

Latest Video

Image

Junior Cadet Graduation

${article.thumbnail.title}

How to watch out for fraudulent charities

Image

Veteran Charity Scam

Image

3 injured in Lee County crash involving deputy

Image

Blaze causing church to burn down

Image

Pleasant Hill Baptist Church burned down

Image

Matt's 5 PM Friday Forecast

Image

Benton County church destroyed by fire

Image

Joel's Friday Afternoon Forecast: Intense heat followed by strong overnight storms

Image

Joel's Friday Morning Forecast: Extreme heat followed by strong storms