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Pin Oak Terminals officials on Monday held a ribbon-cutting ceremony for the company's new petroleum and liquid storage terminal at the Port of South Louisiana.Announced in October 2015, the project involved a $600 million capital investment in storage terminals, docks and related infrastructure along the Mississippi River's east bank at Mount Airy, Louisiana. Pin Oak offers offloading, storage, heating, blending and transfer of petroleum liquids. The company's permits allow construction of up to 10 million barrels of storage and unit-train loops on its 431-acre site, which is situated for shipping of products by rail, pipeline, barge, ship and truck, Pin Oak officials said in a press release.The terminal is beginning operations with one dock, a two-bay truck rack and four tanks with a capacity of 424,000 barrels of refined products and biofuels, they said.
When construction is completed, the terminal will be served by two Class Is: CN and Kansas City Southern."Pin Oak Terminals is a 15-year-old dream come true which is now being fully supported by the market," said Chief Executive Officer Michael Reed. "Customers have signed agreements for up to almost 4 million barrels for this new grassroots terminal."
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