Week in Review, Aug. 28-Sept. 1: Avondale, Wind Energy, Scalise and More

NEW ORLEANS — On Aug. 30, the Port of South Louisiana Port Commission voted to purchase Avondale Global Gateway from Host for a revised price of $330 million. 

In January, PortSL announced plans to buy the former shipyard, which had recently been converted into a logistics hub, for $445 million. The deal earned its fair share of critics, who said the price was too high.

Now, after an extended due diligence period and the lower purchase price, PortSL CEO Paul Matthews is as bullish on the plan as ever.

- Sponsors -

“Avondale Global Gateway represents a transformational opportunity for the Port of South Louisiana and this entire region,” said Matthews in a press release announcing the new purchase price. “We are experiencing dynamic shifts in global trade and logistics, and the acquisition of Avondale Global Gateway – while maintaining terminal management from Host – presents an opportunity for PortSL to reinforce its position as a leading hub for commerce, not just in Louisiana, but along the entire Gulf Coast and around the world.”

Here are more of the week’s top business stories:


- Partner Content -

Entergy’s Energy Smart Program Brings Cost Conscious Innovation to New Orleans

Offering comprehensive energy efficiency at no cost to the consumer, Entergy’s Energy Smart program incentivizes Entergy New Orleans customers to perform energy-saving upgrades in...


Digital Sponsors / Become a Sponsor

Follow the issues, companies and people that matter most to business in New Orleans.

Email Newsletter

Sign up for our email newsletter