Petroplex International, L.L.C. (“Petroplex, the “Project”), a development company of bulk liquid storage tank terminals based in Baton Rouge, along with a consortium consisting of Macquarie Group (ASX: MQG; ADR: MQBKY), through its Macquarie Capital division, Quanta Services Inc. (NYSE: PWR) and individual investor Mr. Harley Franco, CEO and founder of Harley Marine Services Inc., today announced that it has raised capital to progress the development of a $600 million multi-modal bulk liquid terminal in St. James Parish with a projected initial storage capacity of 4 – 6 million barrels.
Petroplex will build a storage and distribution terminal for crude oil, refined petroleum products, fuel oil, chemicals, agrichemicals, renewable fuels, and other commercial liquid commodities and will provide in-tank blending capabilities throughout the facility. The initial phase of the project includes the design, engineering, development, and operation of a state-of-the-art storage terminal that is capable of receipt or delivery between a variety of intermodal systems, including trucks, railcars, marine barges and ocean-going vessels, and connections to the existing and future pipeline infrastructure systems. Once completed, the project will be the only dedicated independent “for-hire” terminal services company serving the growing St. James crude and refining market.
“We are pleased to announce that we are ready to advance the development of this much-needed project through to completion,” said Mark Helmke, President and Chief Operating Officer, Petroplex. “The development team has done an excellent job in getting the project to this stage. With our consortium partners Macquarie Group, Quanta Services and Mr. Franco, we are positioned to promptly deliver an important infrastructure solution to a high-demand market.”
“The substantial increase in crude oil production from domestic shale formations and Canadian oil sands is rapidly changing North American product supply flows and requires new infrastructure to accommodate its storage,” said Mr. Helmke. “The St. James region is expected to significantly benefit from new production and crude supply shifts. We believe that Petroplex is in an ideal location to provide terminal services for the seamless movement and storage of all commercial liquid commodities. The Project is strategically located in close proximity to key intermodal infrastructure, waterways, refineries and manufacturers and will provide a unique storage solution to producers.”
Construction is expected to commence during the first half of 2013, and the facility is expected to begin commercial operations during 2014.
About Petroplex International, L.L.C.
Petroplex International, L.L.C. (“Petroplex”) plans to build a storage, blending and distribution terminal for bulk petroleum, chemicals, agrichemicals, renewable fuels, and other commercial liquid commodities based on a strategic geographic location, modern infrastructure, a best-in-class management team, and a strong commercial alliance with creditworthy partners and counter-parties. Petroplex will serve the market as an independent “for-hire” terminal service company, providing services in support of trading, blending, refinery and chemical manufacturer storage needs, and distribution. Original investors in the project included Mainline Energy Partners No. 2, LLC, Homeplace Ventures No. 2, LLC and Verwater B.V.
About Macquarie Group and Macquarie Capital
Macquarie Group (Macquarie) is a global provider of banking, financial, advisory, investment and funds management services. Founded in 1969, Macquarie operates in more than 70 office locations in 28 countries. Macquarie employs approximately 14,200 people and has assets under management of over $A327 billion (as of March 31, 2012).
Macquarie Capital comprises Macquarie Group's corporate advisory, capital markets and principal investing activities. Macquarie Capital provides advisory and capital raising services to corporate, institutional and government clients involved in public mergers and acquisitions, private treaty acquisitions and divestments, debt and equity fund raising and corporate restructuring.
About Quanta Services Inc.
Quanta Services is a leading specialized contracting services company, delivering infrastructure solutions for the electric power, natural gas and pipeline and telecommunications industries. The company's comprehensive services include designing, installing, repairing and maintaining network infrastructure nationwide. Additionally, Quanta provides point-to-point fiber optic telecommunications infrastructure in select markets and offers related design, procurement, construction and maintenance services. With operations throughout North America and in select international markets, Quanta has the manpower, resources and expertise to complete projects that are local, regional, national or international in scope.
About Mr. Harley Franco
Harley Franco is the founder and CEO of Harley Marine Services (HMS), a leading marine transportation services company with operations along the United States West Coast, Alaska, New York / New Jersey Harbor and with an expanding presence in the U.S. Gulf. Services include the transportation and storage of petroleum products, ship assist and escort, and the transportation of general cargo. HMS will provide barging services in and out of the Petroplex facility and manage the terminal dock.
About Verwater B.V.
Founded in 1922, Verwater has since developed into a specialist in storage tank maintenance and EPC contracting for tank terminals. With offices worldwide and over 750 employees who are dedicated to providing excellence, safety and quality, Verwater has the ability to meet the demands of specialized projects. Verwater offers services in engineering, tank construction and maintenance, civil work, piping and coating.