Mar 1, 2013 9:08 AM by AP
LETTSWORTH, La. (AP) - A Florida company has plans to build five plants in Louisiana's Pointe Coupee Parish that will convert agricultural waste into fertilizer.
BioNitrogen Corp., of Doral, Fla., said Thursday it has been granted preliminary approval by the Louisiana Community Development Authority to issue up to $1.25 billion in tax-exempt bonds to acquire land for the plants and build and develop the facilities.
BioNitrogen said it signed a letter of intent to buy about 250 acres of land next to the Pointe Coupee Parish Port near Lettsworth that will be used for the plants.
Bryan Kornegay Jr., president and chief financial officer of BioNitrogen, tells The Advocate (http://bit.ly/13tmWLJ ) each of the Pointe Coupee plants would hire about 52 full-time employees.