The state has reportedly put up $10 million, and the terminal operator will invest $5 million. Florida-based company Circle Bio Energy will use the site to export up to 500,000 tonnes of pellets per year to European utility companies.
An additional $14 million from the US Department of Transportation will also work in conjunction with the project for intermodal improvements like the relocating of a railroad interchange near the site. The money is being given by the department's Transportation Investment Generating Economic Recovery (TIGER) discretionary grant programme.
The $24 million authorisation provides the project with a 'cushion' should additional modifications be required. Though the engineering design is reportedly not yet complete, construction of the wood pellet facility is due to begin in early 2015.
