Petroplex International, L.L.C. (Petroplex), a development company of bulk liquids storage tank terminals based in Baton Rouge, today announced that it has launched the front-end engineering and design (FEED) study as part of the progression of the development of a state-of-the-art bulk liquids terminal facility in St. James Parish, La.
“We are pleased to announce the launch of the FEED study for this project,” said Mr. Timothy P. Berrigan, Chief Development Officer, Petroplex. “We continue to build momentum in the development and financing aspects of this project and hope soon to deliver this much-needed storage, blending and logistics facility to our anchor customers in the St. James Parish region.”
Petroplex, which is backed by a consortium including Macquarie Group (ASX: MQG; ADR: MQBKY), through its Macquarie Capital division, Quanta Services Inc. (NYSE: PWR) and individual investor Mr. Harley Franco, CEO and founder of Harley Marine Services Inc., announced that QPS Engineering, LLC, a division of Quanta Services, has been engaged to lead the design and engineering work of the project, and Verwater B.V. will provide specialist engineering advice on the storage tanks. The storage and distribution terminal will include a unit-train facility, barge and ship dock, truck racks and pipeline and will be designed and tailored to client specifications.
The project is expected to break ground on major construction works following construction financing close in the first half of 2013 and begin commercial operations during 2014.About Petroplex International, L.L.C. Petroplex International, L.L.C. (Petroplex) plans to build a storage, blending and distribution terminal for bulk petroleum, chemicals, agrichemicals, renewable fuels, and other commercial liquid commodities based on a strategic geographic location, modern infrastructure, a best-in-class management team, and a strong commercial alliance with creditworthy partners and counter-parties. Petroplex will serve the market as an independent “for-hire” terminal service company, providing services in support of trading, blending, refinery and chemical manufacturer storage needs, and distribution. Original investors in the project included Mainline Energy Partners No. 2, LLC, Homeplace Ventures No. 2, LLC and Verwater B.V.
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