Navasota Energy Proposes Solution for Safety and Financial Concerns

Navasota Energy with owner and CEO Frank Giacalone recently proposed a fuel terminal that could solve safety concern issues in the Cayman Islands. A proposal was recently made to create both a new fuel depot and a deep-water port to service long-distance cargo ships.

Frank Giacalone explained that his company, which signed a memorandum of understanding with the Cayman Islands government for the purpose of exploring such projects in 2014, is proposing to move the fuel depot out of a residential area both to help with public safety and to lower fuel prices to Cayman.

Frank Giacalone
Frank Giacalone

As Giacalone said, “We are still absolutely committed to working with the government to get this done.”

The project was being discussed until the middle of 2015 but it then stalled and eventually stopped being on the agenda before the 2017 election. Now, as Giacalone explains, they are hoping to reopen the talks with the new government.

Navasota Energy has found a 125-acre location in the eastern districts that has access to deep water and could become a fueling station spot in the Caribbean Sea for large cargo ships. They are hoping to attract bidders and envision that the new location would have a minimum of as much as 10 times the capacity of Jackson Point.

About James Cannon

James Cannon is an experienced hedge fund analyst. He has served on the advisory boards for various different Fortune 500 companies as well as serving as an adjunct professor of finance. James Cannon has written for a variety of Financial Magazines both on and off line. Contact James at james[at]businessdistrict.com