LA: Pin Oak Terminals to Invest $600M in Petroleum Liquids Storage Terminal
22 Oct, 2015
Gov. Bobby Jindal and CEO Mike Reed of Pin Oak Terminals announced the company plans to make a $600 million capital investment in St. John the Baptist Parish, Louisiana, where the company will build a petroleum liquids storage terminal. The facility will be located along the east bank of the Mississippi River at Mount Airy, near the St. John/St James parish line.
The terminal project will create 70 new on-site jobs encompassing full-time company and contractor jobs. Those new jobs will have an average annual salary of more than $60,000, plus benefits. Louisiana Economic Development estimates the project will result in an additional 81 new indirect jobs, for a total of more than 150 jobs in the Southeast Region and surrounding areas. The company estimates the project will generate 250 additional construction jobs.
Gov. Jindal said, “All across Louisiana, opportunities continue to arise for those willing to invest in a brighter economic future. Pin Oak Terminals will be a welcome addition to our energy corridor, offering storage, delivery and other services to industrial customers throughout the region. This $600 million project will bring quality jobs to the River Parishes and Southeast Louisiana. We are happy to see developments here that create meaningful employment opportunities for our citizens and demonstrate yet again that Louisiana is great place to live and work.”
Facility services planned by Pin Oak include offloading, storage, heating, blending and transfer of petroleum liquids. The company is permitted to construct up to 10 million barrels of storage and unit train loops on its 431-acre site, which is situated for convenient shipping of products by rail, pipeline, barge, ship and truck.
“We were very excited to start Pin Oak Terminals in Louisiana and look forward to expanding our footprint with this new storage terminal facility in St. John the Baptist Parish,” Reed said. “The terminal will bring new jobs and economic activity to the community and we are enthusiastic about being a longstanding partner with the Port of South Louisiana, the State of Louisiana, and St. John the Baptist Parish. We plan to grow the facility over time and work with our partners to continue on past successes. The community is vital to us and we intend to remain a mainstay for many years to come. Our focus on growth is centered on superior customer service, safety-first work habits, and uncompromising environmental awareness.”
LED began discussing a potential project with the company in October 2012. In conjunction with the terminal project, the company is expected to utilize Louisiana’s Quality Jobs Program. The company considered sites elsewhere in the Gulf South before choosing to build its facility in Louisiana. Construction is expected to begin this year, and operations are expected to begin in late 2016.
“This project is coming to fruition and today's groundbreaking symbolizes the beginning of a long-term relationship between Pin Oak Terminals and the parish,” St. John the Baptist Parish President Natalie Robottom said. “Through persistence and commitment to this project, company representatives have worked closely with parish officials and community members on the Community Action Panel. There is also a commitment to hiring local contractors and employees, which will enhance economic development and offer good-paying jobs to our residents. We welcome Pin Oak Terminals and stand ready to assist them in making this project a reality.”
“The commitment today by Pin Oak Terminals to construct a tank facility for receiving, blending and storing of various liquid products will be a tremendous asset to the Port of South Louisiana,” port Executive Director Paul Aucoin said. “The company has plans to significantly expand Phase 1 of its operations over the next five years into a world-class facility at the Mount Airy location. We couldn’t be more pleased today to welcome Pin Oak Terminals to the Port of South Louisiana and we will remain committed to work in tandem to see this project realized.”
“Pin Oak Terminals’ decision to locate in St. John the Baptist Parish is another example of Louisiana’s unmatched combination of low costs, excellent logistics and friendly business climate,” Greater New Orleans Inc. President and CEO Michael Hecht said. “We welcome these well-paying jobs and look forward to continuing to work with Pin Oak Terminals to ensure its success in greater New Orleans.”
About Pin Oak Terminals
Pin Oak Terminals LLC, a subsidiary of Pin Oak Holdings LLC, is constructing a petroleum liquids storage terminal on 431 acres along the Mississippi River in Mount Airy, Louisiana. Pin Oak will provide its customers with complete optionality through rail, ship, pipeline, and truck access. It will serve North America’s crude, refined product and chemical industries. It is strategically located next to major supply networks and demand centers and will provide desirable export capacity. For more information, visit http://www.pinoakterminals.com/.