SGR Energy announced that it will acquire Swiss Terminal Baranquilla in Colombia from Ashmore Colombia’s Fondo De Infraestructura Colombia Ashmore I – FCP.
(Markets Insider) Today, Houston-based SGR Energy, Inc. announced its agreement to acquire Swiss Terminal Barranquilla in Atlántico Department, Colombia from Fondo De Infraestructura Colombia Ashmore I – FCP. The terminal will satisfy the needs of up to 210,000 barrels for refined and crude oil storage.
Features of the 2.94-acre terminal includes a warehouse, lab and office which will provide 50,000 barrels per day product unloading capacity, 20,000 barrels per day product loading capacity along with 13 lane truck racks.
SGR Energy will hold permitted storage of up to 210,000 barrels for third party merchant storage, allowing for the acceptance of crude oil and naphtha, with 13 multipurpose temperature-controlled tanks offering the ability to segregate crude and clean products.
The terminal will also process crude oil and blend fuel oil, with up to 7 million barrels of petroleum products transferred or processed through the facility a year. Full operation of the terminal will employ approximately 27 full-time employees.
“We are delighted to acquire from Ashmore Management Company this premier marine transportation and terminal in Colombia,” said SGR Energy CEO Tommy San Miguel. “Swiss Terminal Barranquilla gives SGR Energy a strategic artery to pull supply from Colombia, increase our delivery volume to established customers, and will allow us to develop additional business.”
Barranquilla Port is 166 square kilometers, or 64 square miles. The economy is diverse and strong in the logistics, energy and business services sectors. The port owes its ideal business location to running alongside the Magdalena River, as well as its quick access to the Ernesto Cortissoz International Airport and Colombia’s national highway network.
SGR Energy assumed operations of the facility as of July 6, 2018.
About SGR Energy
Houston-based SGR Energy delivers high quality petroleum products at competitive market prices while creating maximum shareholder profits, and helping to positively impact global emissions with our cost-effective, and cleaner burning low-sulfur fuels.
Media Contact:Craig Hicks, SGR Energy, (832) 241-2180, [email protected]
News distributed by PR Newswire iReach: https://ireach.prnewswire.com