LAWRENCEBURG, Ind. — The site of a former coal-fired power plant in southeastern Indiana will be evaluated as a possible location for a new Ohio River shipping port.

State officials say a redevelopment company is taking over the 700-acre site in Lawrenceburg from Indiana Michigan Power Co. The utility closed the Tanners Creek plant last year.

The Ports of Indiana Commission says the review will include determining the project’s cost and how much land is developable at the site near the Ohio state line.

The agency now operates Ohio River ports in Jeffersonville and Mount Vernon and a Lake Michigan port at Burns Harbor. They handled a record 12.2 million tons of cargo in 2015.

Gov. Mike Pence has backed a fourth port project, but a timeline and funding source haven’t been established.