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UNITED STATES : NuStar to invest $365 million towards expansion plans
Publish Date : 10-Feb-2012
US-based NuStar Energy plans to expand its St. James Terminal on the Mississippi River with an investment of $365 million.
This project is expected to raise the tank storage capacity at the oil terminal to 11 million barrels from present 8 million barrels. It would also expand the capacity of the terminalto offload crude oil from railroad tank cars.
Expansion activity is expected to complete in 2016, where in major part of the project is being funded by Gulf Opportunity Zone bonds.
Over a five-year period in current, past and future projects, NuStar expects $505 million in capital improvement projects at the terminal.
