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Project to build used oil plant at Tampa port has been suspended

Project to build used oil plant at Tampa port has been suspended

The Texas investment group building a $100 million-plus used-oil processing plant at the Port of Tampa that was envisioned as an economic development showcase for the region has suspended construction of the plant for 90 to 120 days, the group said in a release.

“The costs estimated for plant completion have increased more than 100 percent from the initial construction estimate,” the release dated Nov. 22 said.

“While NexLube believes the project continues to be viable, it needs time to evaluate its options due to the substantial increase in projected costs.”

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