Castleton Commodities International and Junction Energy Capital have broke ground on a $128 million oil storage and distribution facility.
The Corpus Christi Marine Storage Terminal, located on the Joe Fulton Corridor next to the M&G Chemicals plant in the Port of Corpus Christi, has been designed to load oil and gas products piped in from the Permian Basin and Eagle Ford shale plays.
It is expected to be operational in 2019.
A marine facility included in the construction project will provide docking for ships. It will store 4.5 million barrels of crude oil and process 100,000 barrels per day. Three docks will be built to load tankers for shipping.
The first phase of the project includes one dock and six storage tanks that will hold 250,000 barrels each.
Rob Johnson, of Junction Energy, says: 'The idea is to take barrels being produced in the Permian and Eagle Ford, ship them through the facility, load them on the vessels for the ultimate transport to other parts of the US and the world.'
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