20.06.16. Green Plains Inc and Jefferson Gulf Coast Energy Partners, a subsidiary of Fortress Transportation and Infrastructure Investors LLC, have formed a joint venture to build an intermodal export and import fuels terminal at Jefferson’s existing Beaumont, Texas terminal.
The 50/50 joint venture is expected to invest approximately US$55 million in its Phase I development which will initially focus on storage and throughput capabilities for multiple grades of ethanol.
Further development of the joint venture’s facilities is expected to add the ability to manage multiple liquid products for import and export, including liquid hydrocarbons, vegetable oils and other non-liquid commodities.
Green Plains CEO Todd Becker said the site offers access to three Class I railroads, barges and inbound/outbound vessels.
Green Plains Trade Group will be the anchor customer, and the terminal is expected to serve other ethanol exporters as well.
Phase 1 development will use existing infrastructure at the Jefferson terminal in Beaumont, and is expected to include approximately 500,000 barrels of storage with expansion potential of up to 1 million barrels. Construction of phase 1 is expected to take nine months with completion projected in the second quarter of 2017.
20th June 2016
