St. Joe, Port Authority to partner on initial dredging work

Published: Friday, July 5, 2013 at 08:59 AM.

Both LOIs contemplate lead time for dredging to take place.

An LOI with Green Circle Bio Energy contemplates a window of roughly two years for dredging to be completed before the shipping through the Port of Port St. Joe.

A second LOI, with Enova Energy Group, indicates the company would not be ready to begin shipping pellets until the latter half of 2014 at the earliest.

But both LOIs are contingent on the completion of the dredging.

As Pitts noted those two LOIs also provide the “economic justification” for the maintenance dredging and would also likely impact a proposed FDOT grant for improvements to the AN Railway.

A FDOT grant of $5 million was announced earlier this year, but Pitts said the grant dollars were now stalled and Costin said the state is, in a sense, linking the rail grant to the dredging.

“I don’t see how they can stall it much longer,” Costin said, alluding to the announcement of the LOI with Enova.

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