Contanda Terminals has acquired 339 acres of land within the Port of Houston to further develop its storage terminal capability.
The multi-year commercial agreement covers a piece of prime, deep-water access property located on the Houston Ship Channel.
This acquisition enables Contanda to continue to develop its key strategic business objective of doubling its terminal storage capability over the next five years, and to expand into the bulk petrochemical and hydrocarbon markets.
The company says it will further strengthen its presence along the US Gulf Coast where project investments have surged since 2014. It operates three other bulk terminals along the Gulf Coast.
G.R. (Jerry) Cardillo, president and CEO of Contanda, says: 'This agreement with the Port of Houston Authority solidifies our long-term commitment to grow with the Port of Houston and the Houston Ship Channel.
'With this project, Contanda has the opportunity to make significant strides in achieving our corporate goals while firmly establishing our position as a leading storage provider in the growing petrochemical and hydrocarbon markets. We firmly believe in the Port of Houston, its capabilities and the opportunities it presents to our customers and shareholders.'
Contanda's state-of-the-art automated terminal facility will be built in phases to provide customers access to onsite processing, multiple ship and barge docks, and convenient tank truck and railcar accessibility.
The facility is centrally located for numerous pipeline connections, providing support storage services for a variety of commodities including petrochemical, clean petroleum products, various blend stocks, ethanol, crude oil, and refinery intermediates and other bulk commodities.
In addition to its three Houston terminals, Contanda operates 13 other bulk terminals across the US.
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