UK investment company VH Global Sustainable Energy Opportunities (GSEO) has committed $35 million (€31 million) to expand one of its terminals in Texas.
GSEO bought two terminals in Texas in May 2021, to supply less-polluting fuels, compliant with US and European standards for sulfur, particulates and NOx, to the Mexican market. Increasing tenant demand means that GSEO needs to increase the throughput and on-site blending capacity of one of those terminals.
The company will add 340,000 bbl of tank storage capacity, taking the total capacity across the two terminals to 865,000 bbl. It will increase the rail car unloading capacity, and increase the draught of the liquid cargo dock, allowing the dock to accommodate larger ships.
Motus Energy, which operates the terminals on behalf of GSEO, will carry out and oversee the works, which will take place over the next year. Once the works are completed, GSEO’s total investment in the two terminals will total $96 million.
For more information visit www.vh-gseo.com