Industry

Agriculture

Company

Cargill Inc. is an international marketer, processor and distributor of agricultural, financial, industrial and food products and services with 97,000 employees in 59 countries. The company provides distinctive customer solutions in supply chain management, food applications, and health and nutrition.

Project

Agriculture Storage and Handling Facility

Scope

Cargill was seeking an economically feasible way to construct an agricultural facility on Lake Michigan that would receive, store and export grain from the Northwest Indiana region to world markets.

A facility was needed to store and handle grain efficiently in large volumes at high flow-rates. The facility's primary purpose was the high-speed loading and unloading of ocean-going ships, but the design also needed to include capabilities for loading unit trains as well.

Solution

Port Revenue Bonds

Terms

The Ports of Indiana acquired the real property in the name of the State of Indiana on which the facility was to be constructed. In order to finance the construction of the facility, the Ports of Indiana entered into a Trust Agreement with a local financial institution, and issued $19 million in Port Revenue Bonds. Later, a Supplemental Trust Agreement was entered into creating $4.95 million in Port Revenue Bonds. The Bonds were secured by a pledge of lease-rentals payable by Cargill.

Investment

$23,950,000

Opened

1980

Jobs Created

18

Industry

Industrial

Company

CEMEX is a leading global producer and marketer of cement and ready-mix products, with operations concentrated in the world's most dynamic cement markets across four continents. CEMEX combines a deep knowledge of the local markets with its global network and information technology systems to provide world-class products and services to its customers, from individual homebuilders to large industrial contractors.

CEMEX is now the second largest cement producer in the market. Both Standard & Poor's and Fitch Inc. have given CEMEX's credit an investment-grade rating.

Project

Barge-Receiving/Truck-Loading Cement Terminal

Scope

CEMEX was seeking an economically feasible way to construct a barge-receiving/truck-loading facility to distribute dry cement around the southwest Indiana area. This project included an on-river barge unloading station, a pneumatic bulk-product conveyor running from the riverbank to a roadside silo and a truck-loading roadway at Southwind Maritime Center.

Solution

Port Revenue Bonds

Terms

The Ports of Indiana financed the construction of the facilities through the sale of port revenue bonds. CEMEX entered into a lease with the Ports of Indiana to repay the bonds and offered a letter of credit to support the lease payment. CEMEX agreed not to claim depreciation or an investment credit with respect to the facilities financed by the bonds and to execute a Tax Representation Certificate in connection with the issuance of the bonds.

Investment

$5,500,000

Opened

2001

Jobs Created

3

Industry

Industrial

Company

Global Materials Services operates a network of 25 river and/or rail terminals, primarily along the Mississippi River system, which provide ferroalloy and general cargo transfer and warehousing to serve the commercial needs of each terminal's region.

The River Terminal division of Global Materials provides bulk and general cargo operations for clients along the Mississippi, Ohio, Arkansas, Tennessee and Missouri Rivers through 13 locations. Commodities handled include steel, specialty wire, fertilizer, grain, paper, scrap, caustic soda, aggregate and other products.

Project

General Cargo Facilities

Scope

Global Materials Services was seeking an economically feasible way to construct and operate a general cargo terminal and 130,000 sq. ft. warehouse facility located in the Louisville/Jeffersonville area in or near Clark Maritime Center.

Solution

Port Revenue Bonds

Terms

The Ports of Indiana issued port revenue bonds in the total principal amount of $3.5 million, maturing no later than 30 years from the date of issuance, for the purpose of procuring funds to pay a portion of the project construction cost. The bonds were set up to be paid by Global through lease payments.

Investment

$3,500,000

Opened

1995

Jobs Created

16