The company announced on Tuesday morning that it is buying 236 acres of land near the existing Pin Oak facility at the Port of Corpus Christi.

Located off Up River Road and along the south shore of the Corpus Christi Inner Harbor, the newly acquired land is also next to the Corpus Christi Rail Yard.

Financial terms of the real estate deal were not disclosed but the company reported that it plans to develop the newly acquired land to accommodate 10 million barrels of bulk liquids storage that can be shipped either by rail or tanker.

As one of four destinations for a Permian Basin to Gulf Coast project known as the Gray Oak Pipeline, Pin Oak plans to build short-distance pipelines that will connect storage terminals that will be built on the land to new rail facilities it plans to build and the company’s already existing docks.

“We are excited to be expanding our footprint through this acquisition which will bring incremental tankage and logistics solutions to our customers,” Pin Oak Holdings CEO Mike Reed said in a statement. “Pin Oak is in a unique position to offer its customers a full logistics solution through its direct refinery connections, Suezmax vessel and barge dock capabilities, truck loading and unloading bays, and direct access to two Class 1 railroads.“

Launched as a joint venture between Dauphine Midstream and Mercuria Energy Group, Pin Oak entered the Port of Corpus Christi as part of an Oct. 2017 deal to buy a facility owned Gravity Midstream.

In addition to the Port of Corpus Christi, Pin Oak Terminals is also developing a bulk liquids storage terminal in Mt. Airy, Louisiana.

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