FTAI Infrastructure Inc. (NASDAQ: FIP) announced on 2025-10-20 that its subsidiary, Delaware River Partners LLC, has received approval from the New Jersey Department of Environmental Protection to construct two underground granite caverns at the Repauno Port and Rail Terminal. The approval will enable the addition of two caverns, each capable of storing more than 600,000 barrels of liquefied petroleum gas, on top of the existing 180,000‑barrel cavern. The new caverns will be located more than 700 feet below ground, expanding the terminal’s bulk liquid storage capacity and reinforcing its role as a regional energy hub.
The approval also includes a projected local economic impact: construction of the caverns is expected to create over 500 well‑paying union jobs and contribute to commerce along the Delaware River waterfront. CEO Hank Alexander of Delaware River Partners highlighted the project’s significance for American energy independence and the revitalization of the industrial waterfront.
With the regulatory green light, FTAI Infrastructure can move forward with the Phase 3 development, positioning Repauno as a key player in the liquefied petroleum gas market and enhancing the company’s long‑term value proposition.
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