B.R. firm moving forward with $600M bulk liquid terminal in St. James

Baton Rouge-based Petroplex International says it has raised the capital necessary to move forward with the development of a $600 million multimodal bulk liquid terminal in St. James Parish. The company says the facility will be state-of-the-art, with initial capacity between 4 million and 6 million barrels and with the flexibility to store crude oil, refined fuel oil, bitumen and other petrochemical products. The storage and distribution terminal will also provide in-tank blending capabilities. Construction is slated to begin during the first half of next year, and the facility is expected to begin commercial operations during 2014. Located between Baton Rouge and New Orleans, the terminal is positioned to capitalize on the convergence of highway, rail, pipeline, marine barge and ocean-going vessel transit. “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,” says Petroplex President and Chief Operating Officer Mark Helmke. “The St. James region is expected to significantly benefit from new production and crude supply shifts.” Aside from Petroplex, others involved in the project include the global financial firm Macquarie Group, energy-infrastructure developer Quanta Services Inc., and investor Harley Franco, founder of Harley Marine Service Inc., which will operate the facility’s barge docks.