Zenith Energy intends to invest around $100 million into its Amsterdam terminal, which it recently acquired from BP.
The company, which completed the acquisition of the liquid storage and handling facility on April 26, intends to fully utilise its capacity for products and LPG storage.
Jeff Armstrong, president and chief executive officer at Zenith says: ‘This transaction is a significant step forward for Zenith and places us at the centre of a key geographic region for the energy industry.
‘With these investments, Zenith will deliver a state of the art, efficient products storage and distribution system to service this important hub.’
The $100 million investment will be spent on restoring tanks to service, creating more efficiencies in the facility as well as upgrading mixing systems, pumps and tanks.
The terminal has more than six million barrels of storage for petroleum, ethanol, middle distillates, biodiesel, kerosene and LPG, with capabilities for sophisticated blending.
The terminal has connectivity for ocean vessels, inland waterways and trucks, and a deep draft to service ocean going tanks up to 135,000 tons with multiple berths for barges and ships.
Additionally the terminal has significant room for expansion projects.
The company says in a statement that it is evaluating other acquisitions and investment opportunities in the ARA.