Investment group TXO (LON:TXO) has increased its stake in one of the companies redeveloping Freeport in Grand Bahama.

TXO now owns 35.7% of Grand Bahama Group (GBG) following the acquisition of a further 100 shares for £700,000. Its stake previously was 30.2%

Freeport is the only port in the vicinity of the Eastern Seaboard of the US capable of taking the post-Panamax ships that will be coming through the widened Panama canal in 2015.

GBG aims to build a hydrocarbon recovery plant to extract heavy fuel oil from waste oils removed from vessels.

This is an excerpt from Proactive Investors as it appeared on March 5, 2014. For updates or to read the current version of this post in its entirety, please click here.

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