LBC Tank Terminals will build and operate a new storage terminal in Freeport, Texas.
The operator has finalised agreements with MEGlobal Americas, which owns the land, to design, engineer, construct and operate the new facility, which will be adjacent to MEGlobal's monoethylene glycol manufacturing plant and connected by pipeline.
LBC Freeport Terminal will be an integrated part of MEGlobal's supply chain, secured through a long-term contract and pipeline connection. The main products to be handled are monoethylene glycol and diethylene glycol.
Work on the facility started in August 2017 and the facility is due to be operational during 2019.
John Grimes, regional business president Americas for LBC, says: 'With over 30 years of historical experience in handling glycols, this project opportunity fits our portfolio and investment risk models and is aligned with our business strategy to further optimise, build-out and expand our business.
'This project very much fits our expertise in constructing, managing and operating chemical terminals and we look forward to a successful business partnership with MEGlobal.'
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