LOI could result in Florida export operation
The St. Joe Company has signed a letter of intent (LOI) with Enova Energy Group that could lead to the development of a pellet export operation at the Port of Port St. Joe, Fla., approximately 100 miles southwest of Tallahassee. The LOI is contingent upon the Port of Port St. Joe receiving funding to complete maintenance dredging of the shipping channel, which is federally authorized to a maximum of 37 feet.
According to The St. Joe Company, Enova Energy has expressed interest in transporting a minimum of 1 million metric tons of wood pellets per year, using the AN Railway to the Port of Port St. Joe. The company has also shown interest in using or developing port site facilities, provided that the port is capable of accepting vessels of adequate size for the shipment of its commercial wood pellets.
The Port of Port St. Joe is well-positioned for bulk cargo shipments, offering access of rail, the U.S. Gulf Intracoastal Waterway and the state and U.S. highways.