||United States : Green Plains, Jefferson Terminal Logistics forms JV to build intermodal terminal in Beaumont, US
||Green Plains and Jefferson Terminal Logistics have formed a joint venture (JV) for construction and operations of an intermodal export and import fuels terminal at Beaumont in Texas, US.
The 50/50 JV plans $55m investment during the phase I development of the project at Jefferson's existing Beaumont terminal.
The terminal will be offering direct access to multiple transportation options, also to include Aframax vessels, inland and coastwise barges, trucks, and unit trains with direct mainline service from the Union Pacific, BNSF and KCS railroads.
The first phase development will cover nearly around 500,000 barrels of storage capacity with expansion potential of about 1,000,000 barrels. Completion is expected in the second quarter of this year. It will remain more focused on storage and throughput capabilities for multiple grades of ethanol, while further development will be managing multiple liquid products for import and export, also to include liquid hydrocarbons, vegetable oils and other non-liquid commodities.
Green Plains president and CEO Todd Becker said, "Once completed, we believe this terminal will provide Green Plains and other customers warith significant advantages over other locations."
Jefferson president and CEO Greg Binion said, "Green Plains Trade Group will be the anchor customer of the joint venture, and the terminal is expected to serve other ethanol exporters as well."
"We are confident that Jefferson's multimodal capabilities and sustainable cost-advantaged logistics will contribute to the success of this joint venture."
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