Zenith Energy and Grupo Coremar have completed the first phase of the Palermo Tanks Terminal in Barranquilla, Colombia.
The facility has a current capacity of 352,000 barrels for refined products and crude oil storage, a new ship dock and six lane truck racks as well as associated infrastructure.
Palermo Tanks will hold a permitted storage of up to 2.5 million barrels for third party merchant storage for clean products, crude oil, asphalt, vegetable oil and petrochemicals.
The first phase capacity was contracted on a term basis and Zenith will be pursing the next phase of expansion over the next year.
Palermo Tanks is located within Grupo Coremar’s 426-acre Palermo Port Society development.
Jeff Armstrong, president and CEO of Zenith says: ‘Palermo Tanks, located inside Grupo Coremar’s world class Palermo Port Society location, provides the deepest draft for the most modern liquids terminals in the Barranquilla market.
‘This is the first of many planned strategic midstream investments for Zenith in Colombia, one of the most important energy economies in the region.’
- The June/July edition of Tank Storage Magazine features an exclusive interview with Zenith Energy about Palermo Tanks Terminals. Find out more information about a subscription to the magazine.