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.
“We are pleased to announce that we are ready to advance the development of this much-needed project through to completion,” said Mark Helmke, President and Chief Operating Officer, Petroplex. “The development team has done an excellent job in getting the project to this stage. With our consortium partners Macquarie Group, Quanta Services and Mr. Franco, we are positioned to promptly deliver an important infrastructure solution to a high-demand market.”
“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 Mr. Helmke. “The St. James region is expected to significantly benefit from new production and crude supply shifts. We believe that Petroplex is in an ideal location to provide terminal services for the seamless movement and storage of all commercial liquid commodities. 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.”
Construction is expected to commence during the first half of 2013, and the facility is expected to begin commercial operations during 2014.
Petroplex is developing the terminal as part of a consortium consisting of Macquarie Capital (part of the Macquarie Group), Quanta Services Inc and individual investor Harley Franco, CEO and founder of Harley Marine Services Inc.