Several multimillion-dollar projects, including a $14 million expansion of the Bayou Companies, are either underway or planned at the port.
Economic rays of sunshine are beginning to break through the storm clouds formed after the price of oil dropped from $106 a barrel in August 2014 to a low of $27.80 in January of this year before bouncing back to about $50 per barrel at this writing. The Port of Iberia has recently scored several multimillion-dollar oil and gas projects, and while this latest activity has done little more than cauterize the wound left from the latest economic downturn, it bodes well for future job creation.
Among the most notable projects is the $14 million expansion of the Bayou Companies, which is constructing a 56,000-square-foot pipe coating facility. The facility’s first task will be a two-year project for Shell Oil’s Appomattox project, Shell’s largest floating platform in the Gulf of Mexico. Bayou Companies will add 40 workers to its workforce of 320.
Also in the works or planned, along with the jobs that will be created:
• Dynamic Energy Services International has begun delivery on the topside modules for the Sasol Ltd. ethane cracker project being built in Lake Charles - 400 jobs.
• Logan Industries is nearing completion of a 30,000-square-foot facility to store large components of offshore rigs. The $4.5 million facility will have cranes with lifting capabilities of more than 80 tons - 300 jobs.
• Ram Design is continuing construction of its 18-acre facility at the Port of Iberia. The Port has invested $3 million for land improvements and construction - 10-15 jobs.
• Louisiana Machinery Company is in final discussions of a major multi-million dollar facility expansion at their Port of Iberia headquarters - 50-60 jobs.
• Primoris is building a new facility to manufacture pipe - 400 jobs.
• And the port itself has recently secured $8.5 million from the State Bond Commission for deepening the Acadiana Gulf of Mexico Access Channel.