Bulk liquid terminal operator IMTT studies that it has closed on the sale of the corporate’s bulk liquids storage terminal situated in Gretna, Louisiana to BWC Terminals LLC.
The Gretna terminal is situated on the Mississippi River and has roughly 2.3 million barrels of storage capability, with truck, rail, and deep-water marine entry.
“BWC was uniquely positioned to execute on this transaction due to the adjacent location of their Harvey terminal,” stated Carlin Conner, chairman and CEO of IMTT. “Divesting a terminal that we have owned and operated for 32 years was a difficult decision. BWC’s commitment to continuing to operate Gretna with the current team in place, and in a safe, environmentally responsible, and efficient manner was a major factor in our decision.”
“With the reinvestment of proceeds from this transaction and the execution of contracted renewable fuel and chemical-related infrastructure projects that are in progress, over half of the company’s revenue in 2023 will be generated from the handling of non-petroleum products, such as renewable diesel feedstocks, renewable diesel, vegetable and tropical oils, and chemicals,” stated Conner.
New Orleans-based IMTT will proceed to personal and function its 16 different terminals throughout North America, together with its three Louisiana terminals situated alongside the Mississippi River in Avondale, Geismar, and St. Rose, which generate practically 70% of its income from the dealing with of non-petroleum merchandise.
