$600 million petroleum storage site planned for St. John
ST. JOHN THE BAPTIST PARISH, LA (WVUE) - Gov. Bobby Jindal and CEO Mike Reed of Pin Oak Terminals announced on Wednesday, Oct. 21 that the company plans to make a $600 million capital investment in St. John the Baptist Parish, Louisiana, where the company will build a petroleum liquids storage terminal.
According to a news release from the governor's office, the facility will be located along the east bank of the Mississippi River at Mount Airy, near the St. John/St James parish line.
The terminal project will create 70 new on-site jobs encompassing full-time company and contractor jobs.
Those new jobs will have an average annual salary of more than $60,000, plus benefits.
Louisiana Economic Development estimates the project will result in an additional 81 new indirect jobs, for a total of more than 150 jobs in the Southeast Region and surrounding areas. The company estimates the project will generate 250 additional construction jobs.
Facility services planned by Pin Oak include offloading, storage, heating, blending and transfer of petroleum liquids.
The company is permitted to construct up to 10 million barrels of storage and unit train loops on its 431-acre site, which is situated for convenient shipping of products by rail, pipeline, barge, ship and truck.
"We were very excited to start Pin Oak Terminals in Louisiana and look forward to expanding our footprint with this new storage terminal facility in St. John the Baptist Parish," Reed said. "The terminal will bring new jobs and economic activity to the community and we are enthusiastic about being a longstanding partner with the Port of South Louisiana, the State of Louisiana, and St. John the Baptist Parish. We plan to grow the facility over time and work with our partners to continue on past successes. The community is vital to us and we intend to remain a mainstay for many years to come. Our focus on growth is centered on superior customer service, safety-first work habits, and uncompromising environmental awareness."
LED began discussing a potential project with the company in October 2012.
In conjunction with the terminal project, the company is expected to utilize Louisiana's Quality Jobs Program.
The company considered sites elsewhere in the Gulf South before choosing to build its facility in Louisiana.
"Pin Oak Terminals' decision to locate in St. John the Baptist Parish is another example of Louisiana's unmatched combination of low costs, excellent logistics and friendly business climate," Greater New Orleans Inc. President and CEO Michael Hecht said. "We welcome these well-paying jobs and look forward to continuing to work with Pin Oak Terminals to ensure its success in greater New Orleans."
Construction is expected to begin this year, and operations are expected to begin in late 2016.
Copyright 2015 WVUE. All rights reserved.