The Port of South Louisiana recently held the ribbon-cutting ceremony for its new petroleum liquid-storage facility, Pin Oak Terminals.
The terminal, located on a 431-acre site on the banks of the Mississippi River, includes docks, storage facilities and related infrastructure. It was built with a $600 million capital investment.
When it begins operation, it will allow for the blending, heating, transfer and storage of petroleum liquids. Up to 10 million barrels can be stored, and the dock has a 424,000 barrel capacity.
Once completed, the terminal will be served by two docks and two railroads and will have the capacity to simultaneously serve 14 barges.
The project created 440 construction jobs and is expected to create 70 on-site positions and 81 indirect positions, according to Louisiana Economic Development.
The U.S. Department of Commerce has named the terminal a foreign trade zone.
“Pin Oak Terminals is a 15-year-old dream come true which is now being fully supported by the market,” Pin Oak Terminals CEO C. Michael Reed said. “Customers have signed agreements for up to almost 4 million barrels for this new grassroots terminal.”
The ribbon-cutting ceremony was attended by Reed, Port of South Louisiana Executive Director Paul Aucoin, other dignitaries and project supporters.