April 24, 2023 [bnamericas] – Works on refiner Valero’s US$150mn Altamira fuels storage terminal in Mexico’s Tamaulipas state will conclude in October.
Final testing will begin in September, when the first fuel tanker is expected to arrive at the terminal, Bloomberg quoted Valero México head Carlos García as saying. Construction started in July 2021 and start-up was planned for mid-2023.
The new terminal will store 1.1Mb (million barrels) of gasoline and diesel, allowing Valero to close the year with 5Mb storage capacity in Mexico, close to its goal of 5.8Mb, after a US$1bn investment.
The terminal will be operated by OTM Mexplus Puertos and is being built by Grupo México subsidiary GMSI.
Work on Valero’s Nuevo León and Jalisco terminals continues, García said, both of which are being built by Grupo México and demand a combined US$230mn.
The terminals are part of a bid to expand Valero’s supply chain in Mexico and reach large metropolitan consumption hubs, including Mexico City, Guadalajara and Monterrey, as well as smaller locations. Valero, the largest refiner in the US, is betting on a private downstream supply chain in Mexico, which also includes an alliance with rail operator Ferromex.
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