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DeepFlex Prepares To Resume Work At Port Of Pensacola

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Work is expected to resume later this year on the DeepFlex project at the Port of Pensacola, after resolution of some financial setbacks. Construction of a half-finished metal warehouse was idled in March.

Published reports say Houston-based DeepFlex has secured emergency funding through its parent firm in Brazil, to address more than $200,000 in liens filed by contractors.

John Myslak with Construction Management Advisors in Pensacola, which represents DeepFlex locally, says the liens are a procedural matter. Another factor in the shutdown, he says, is the price of crude oil. DeepFlex produces underwater pipe for the oil and gas industry.

“Late last year, as you recall, the global oil price tumbled from a high of roughly $150 a barrel to somewhere in the $40s,” said Myslak. “That kind of brought everything to a slowdown, and ultimately a halt in construction.”

DeepFlex officials are in town this week, to meet with contractors. The firm’s rep, John Myslak, says the city and the port have shown great patience through it all, but are concerned about the state of the incomplete facility.

“We’re in hurricane season, and that building needs to be completed,” Myslak said. “It could be at-risk if a storm were to hit Pensacola.”

If all goes as planned, construction could resume in four to five months, depending on the closing of the investor funds. Two options are on the table and the choice could move the start time a little. But Myslak says once begun, the work could be on a faster track, finishing in another five months.

The projections have been that DeepFlex’ Pensacola operation would create about 200 jobs, and produce up to 62 miles of specialized pipe per year. Awaiting the creation of those jobs, is about $7 million in performance-based incentives.

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