Joint venture to construct intermodal fuel terminal in Beaumont, Texas (6/28/2016)
6/28/2022Green Plains Inc. and Jefferson Gulf Coast Energy Partners have formed a joint venture to construct and operate an intermodal fuels terminal at Jefferson's existing terminal in Beaumont, Texas.
The 50-50 joint venture is expected to invest about $55 million in the project's first phase, which will focus on storage and throughput capabilities for multiple grades of ethanol, according to the companies' press release.
In the future, the joint venture is expected to add to its capabilities the managing of multiple liquid products for import and export, including liquid hydrocarbons, vegetable oils and other non-liquid commodities.
"As demand for the products we produce continues to grow both globally and domestically, we want to create a world class solution to service our customers," said Green Plains President and Chief Executive Officer Todd Becker.
The new terminal will have access to three Class Is, barges, and inbound and outbound vessels, he noted. The facility will be served by BNSF Railway Co., Kansas City Southern and Union Pacific Railroad.
Green Plains Trade Group will be the joint venture's anchor customer. The terminal will serve other exporters, as well, said Jefferson President and CEO Greg Binion.
"This project will add the necessary infrastructure at Jefferson Beaumont to distribute ethanol to markets worldwide," Binion said. "We are confident that Jefferson’s multimodal capabilities and sustainable cost-advantaged logistics will contribute to the success of this joint venture."
Source: Progressive Railroading Daily News