A consortium of Baton Rouge-based Petroplex International, Macquarie Group and Harley Franco, CEO and founder of Harley Marine Services, announced May 9 that it has raised capital to move ahead with development of a $600-million multi-modal bulk liquid terminal in St. James Parish. The facility has a projected initial storage capacity of 4-million to 6-million barrels.
Construction is expected to commence during the first half of 2013, and the facility is expected to begin commercial operations during 2014.
Petroplex will build a storage and distribution terminal for crude oil, refined petroleum products, fuel oil, chemicals, agrichemicals, renewable fuels, and other commercial liquid commodities and will provide in-tank blending capabilities throughout the facility. The initial phase of the project includes the design, engineering, development, and operation of a state-of-the-art storage terminal that is capable of receipt or delivery between a variety of intermodal systems, including trucks, railcars, marine barges and ocean-going vessels, and connections to the existing and future pipeline infrastructure systems. Once completed, the project will be the only dedicated independent “for-hire” terminal services company serving the growing St. James crude and refining market, according to Petroplex.
“The substantial increase in crude oil production from domestic shale formations and Canadian oil sands is rapidly changing North American product supply flows and requires new infrastructure to accommodate its storage,” said Mark Helmke, President and Chief Operating Officer, Petroplex, in a statement. “The St. James region is expected to significantly benefit from new production and crude supply shifts... The project is strategically located in close proximity to key intermodal infrastructure, waterways, refineries and manufacturers and will provide a unique storage solution to producers.”