Borco, a joint venture of Connecticut, US-based energy industry investor First Reserve Corporation and the Netherlands-based bulk liquid storage provider Vopak, is making a few changes at its terminal in Freeport, Grand Bahama.
Borco has employed Cal Dive Offshore Contractors of Houston Texas on a $56 million (43.4 million) contract to demolish a jetty and build a new platform and 11 more pipelines.
The project involves the removal of the existing structure and the installation of a new jetty structure along with new pipelines from the tank terminal to the jetty offshore. The work will get underway in Q4 2010 and Q1 2011.
Borco is undertaking a $350 million expansion project. The Greenfield expansion programme provides for the construction of an additional 30 tanks for clean petroleum products and infrastructure improvements.
With the completion of this project, the Borco Terminal will grow from a terminal of 21.4 million barrels to a terminal of 27.4 million barrels capacity, advancing its position as a key international hub for crude oil and petroleum products in the oil industry, as well as a best-in-class storage and trading platform for the region.
Source: The Freeport News