Pin Oak Terminals, LLC (Pin Oak) has opened a new multi-product liquid marine terminal at Pin Oak’s site in Mt. Airy, Louisiana, USA. This followed key investment from Mercuria Energy Group Ltd (Mercuria) in previous months.
Pin Oak is now being fully supported by the market, according to its CEO, C. Michael Reed, with customers signing agreements for almost 4 million bbls for this new grass-roots terminal.
Located at mile marker 144.1 on the Mississippi River in Mt. Airy, Louisiana in St. John the Baptist Parish, the site has the capacity to construct more than 10 million bbls of storage of crude oil, refined products, chemicals, and other liquids.
After nearly 14 months of construction, Pin Oak has employed 449 contractors who have worked 942 265.50 hrs without a lost time incident. Pin Oak has directly and indirectly hired approximately 600 people from local communities and brought economic income to the area, over 75% of which are local residents of River Parishes.
The terminal is beginning operations with one dock, a two-bay truck rack, and four tanks, holding a total capacity of 424 000 bbls of refined products and biofuels. Neighbours can expect construction to continue as the remaining permitted tanks and infrastructure are built. Pin Oak Terminals plans to continue to expand by adding new customers and new opportunities, tanks and infrastructure.
Pin Oak is pursuing a second dock and new customers every day. Once completed, the terminal will have two light Suezmax/Aframax ship docks and capabilities to handle 14 barges simultaneously. Two class I railroads will serve the terminal and the Terminal can build a full two-unit train loop track. The terminal received Foreign Trade Zone status by US Department of Commerce.
“We are very excited that the Pin Oak project is complete and could not be more pleased with the capital investment, the project, and the jobs it will create for our residents and business owners,” said Parish President Robottom. “We look forward to Pin Oak’s continued growth and the tremendous benefits they will bring to all who live in the community for many, many years to come. Thank you to all involved as we move into the future with confidence, optimism and great anticipation of the company’s success in the region and state.”
Mercuria is a strategic partner of Pin Oak, having secured US$100 million equity investment in December 2016.
Read the article online at: https://www.tanksterminals.com/storage-tanks/18082017/terminal-opened-by-pin-oak-terminals/