Core Viewpoint - FTAI Infrastructure Inc.'s subsidiary, Delaware River Partners LLC, has received approval for the construction of underground caverns for liquefied petroleum gas storage, marking a significant expansion project along the Delaware River in New Jersey [1][2]. Group 1: Project Details - The Repauno Port and Rail Terminal will construct two underground granite caverns, each with a storage capacity of over 600,000 barrels, in addition to an existing cavern that holds 180,000 barrels [2]. - The underground storage caverns will be located over 700 feet below ground, positioning Repauno as a major energy hub for bulk liquid storage and enhancing its role in the international energy economy [3]. Group 2: Economic Impact - The construction of the caverns is expected to create over 500 local, well-paying union jobs and contribute to local commerce, aiding in the revitalization of the Delaware River industrial waterfront [5]. - The project aims to meet the growing demand for safe and reliable energy storage, thereby supporting American energy independence and long-term U.S. energy goals [4]. Group 3: Company Overview - FTAI Infrastructure focuses on investing in critical infrastructure sectors such as rail, ports, terminals, and power and gas, which generate strong cash flows and have potential for earnings growth and asset appreciation [6].