- Associated Press - Tuesday, January 2, 2018

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.

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.

Copyright © 2018 The Washington Times, LLC.

The Washington Times Comment Policy

The Washington Times is switching its third-party commenting system from Disqus to Spot.IM. You will need to either create an account with Spot.im or if you wish to use your Disqus account look under the Conversation for the link "Have a Disqus Account?". Please read our Comment Policy before commenting.


Click to Read More and View Comments

Click to Hide