Valero Energy Corporation has acquired Pure Biofuels del Peru (PBF) from Pegasus Capital Advisors.
PBF is the third largest fuels importer in Peru and comprises refined products terminals in Callao, near Lima and in Paita, near Piura in northern Peru.
The Callao terminal has mooring and unloading systems with Panamax vessel capability, storage capacity for 1 million barrels for refined and renewable products as well as an eight-bay truck rack for products distribution.
The acquisition also includes land adjacent to the Callao terminal for future expand of the terminal’s storage capacity.
The Paita terminal, which is due to start operations in mid-2018, is also capable of receiving Panamax vessels and will have an initial product storage capacity of 180,000 barrels, with land available for future expansion.
Joe Gorder, Valero chairman, president and CEO, says: ‘This acquisition demonstrates our continued interest in expanding international product exports and wholesale fuels volumes.
‘Peru is one of the fastest growing economies in Latin America and is well situated geographically to support our strategic growth.’