International-Matex Tank Terminals (IMTT) plans to expand tank storage capacity at two of its terminals in Geismar and at St. Rose, New Orleans, Louisiana.
In May, IMTT obtained preliminary authority to issue up to $250 million (303 million) in bonds from the Louisiana Public Facilities Authority. Additional approval is needed from the State Bond Commission, which meets on 17 June.
The Geismar site has 34 tanks with a capacity of 850,000 barrels, and the St. Rose site has 170 tanks with a combined 11.4 million-barrel capacity, according to IMTTs website.
IMTT has four terminals in Louisiana, one in New Jersey, two in Illinois, one in California and two in Virginia. In Canada the company operates terminals in Quebec and Newfoundland.