St. Joe agreement 'game changer' for port

Port Meeting
Tim Croft
Published: Thursday, May 23, 2013 at 09:20 AM.

An agreement announced last week by the St. Joe Company could have a major impact on the growth of the Port of Port St. Joe.

St. Joe announced that it had signed a Letter of Intent (LOI) with Green Circle Bio Energy, Inc., a maker of wood pellets used for energy, particularly in European markets.

The deal is perfect symbiosis for the companies: Green Circle Bio Energy needs sustainable forest products; St. Joe has tens of thousands of acres of timberlands.

In the LOI, Green Circle and St. Joe expressed intent in entering into a wood fiber supply agreement as part of a formal agreement still to be negotiated.

The release details that the LOI “anticipates several potential new business development opportunities to create jobs in Northwest Florida.”

Green Circle is interested in leasing a site from St. Joe along the Genesee Wyoming railline, formerly the Apalachicola Northern Railroad, to develop a wood production facility, the release continues.

Those pellets, under the LOI, would be shipped through the Port of Port St. Joe.

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