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| Tampa Port Approves Lease Option with Oil Recycling Firm |
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| Wednesday, 16 June 2010 |
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The Tampa Port Authority is pleased to announce that the port’s board of commissioners today approved a lease option agreement with NexLube Tampa, LLC, which plans to construct a recycling facility capable of processing up to 24 million gallons of used oil per year at the Port of Tampa. The facility, to be located on 12 acres at Pendola Point, would be the first of its kind in Florida. The $75 million project is expect to create hundreds of jobs during the two-year construction phase and provide 100 direct and indirect jobs over the duration of the 20-year agreement, with an additional 10 years in options. In addition, the new facility would generate substantial Hillsborough County property tax revenues per year and—when fully operational—a total of $10 million in revenues to the port authority over the term of the lease. Green industries are increasingly being developed at ports across the United States, and fit in well at the Port of Tampa, said Richard Wainio, port director and chief executive. The port is the shipping gateway for about 40% of all the petroleum-related products that serve the fuel needs of most of west central Florida, including the jet fuel supply for both Tampa and Orlando’s international airports. “We are happy to welcome NexLube Tampa, LLC to the Port of Tampa and are eager to see their business succeed. As a major petroleum port, Tampa is a logical center for significant oil recycling,” Wainio said. Recycled oil will be used to produce lubricants, diesel and asphalt. In addition, oil from automobile oil changes will be reprocessed for use as motor oil that is equal or superior to retail motor oil. |
