In the US independent bulk liquid storage terminal operator Blackwater Midstream is drawing closer to its acquisition of a facility in Brunswick, Georgia, for $1.8 million (1.29 million).
The Letter of Intent has been secured and acquisition is expected to be completed within Q1 2010.
The purchase will enable the company to expand in the South Atlantic region.
The Brunswick site consists of 160,000 barrels of storage capacity on six acres of property leased from the Georgia Port Authority.
The site is accessible for ocean vessels, inland barges, railcars, and tank trucks. There is space available within the existing facility to build an additional 150,000 barrels of capacity at the site.
The Brunswick facility acquisition is a key addition to our business. It is strategically located between the crowded Savannah and Jacksonville markets, and will serve our potential customers product distribution requirements as a full service terminal storage facility, Mike Suder, Blackwater Midstream CEO, states.
Blackwater Midstream operates a storage terminal facility in the Port of New Orleans in Westwego, Louisiana. The Westwego facility consists of 902,000 barrels of storage capacity capable of storing a variety of chemical and petroleum products.
The site offers modal access for product distribution via marine, rail, and truck.