Belvedere Terminals Ups its Planned Investment to $750 Million in Florida
09.21.2023 By Tank Terminals - NEWS
September 21, 2023 [Observer]-Belvedere Terminals announced Tuesday that it plans to build a total of 10 fuel terminals over the next five years.
Belvedere Terminals is planning to develop a total of 10 fuel terminals in the state of Florida.
The St. Petersburg-based company announced it is planning to invest about $750 million in the state in a news release on Tuesday, Sept. 19. The company plans to develop its first three sites in Jacksonville, Ormond Beach Ft. Pierce, and the news release states Belvedere officials are working with community leaders in these areas. The sites are in the early stages of planning and development, the company stated.
“Belvedere Terminals is a new company working to support state leaders who are focused on improving Florida’s fuel supply chain and ensure gasoline is accessible during hurricane season, when Florida has faced gas supply shortages in the past due to port closures,” the news release states.
The next seven locations will be developed in the state over the next five years.
“As a sixth generation Floridians myself, we are beyond excited to begin working to develop Belvedere Terminal’s locations in Florida and bring more than $750 million in capital investment with more than 200 jobs to the state,” Belvedere Terminals President Edwin Cothron said. “Our Belvedere Terminals system will use state-of-the-art railcars and sites that will set new industry standards for operational safety.”
Florida currently has no in-state production of oil and gas, or its own gas pipeline, the news release states. Belvedere aims to improve the state’s supply chain by making the state ‘less reliant on port deliveries of fuel.”
“This new system for fuel delivery will help lower gas prices for consumers and offer a safer and more dependable method for getting fuel into the state that is not subject to port shutdowns when a hurricane forms,” Cothron said. “We are in communication with Florida state leaders and we are hopeful that our company’s mission will benefit Floridians by taking some fuel deliveries off of Florida’s unique and fragile waterways while strengthening the supply chain for fuel.”
Locally, Belvedere to build a 16-storage tank fuel farm at 874 Hull Road in unincorporated land near the Ormond Beach city limits. The fuel farm would see about seven trucks an hour, or over 160 a day.
Residents have been staunchly opposed to Belvedere’s proposal since becoming aware of the development.
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