Here is update on the Hunt Tuscaloosa Refinery Coker Expansion showing IDA giving project +$50MM GO Zone Tax Free Bonds for $675 MM expansion which is expanding 3 major units including coker. The authority also amended Hunt’s 10-year sales tax & property tax abatements of 2006, in line with Hunt’s $175MM increased project cost.
This will be good news for Hunt since the project cost had escalated from original $500 MM ($200MM for coker) to $675MM – which is inline with most refinery & coker projects % cost increase globally. The expansion will nearly double products production from existing 52 MBD refinery & 15 MBD coking unit. This will mean adding a second 15 MBD unit with 2 new drums for the coking unit – bringing total coking capacity to 30 MBD by 2010.
Regards
