October 25, 2017 [Business Wire] - USD Group LLC (“USDG”), through its subsidiary Querétaro Energy Terminal (“QET”), has commenced construction activities on a multi-modal transloading terminal to enhance petroleum product distribution capabilities in Querétaro and surrounding areas.
The greater Querétaro market includes over one million residents and is located less than 150 miles from Mexico City.
“Our investment in QET provides an attractive opportunity to establish a presence in the growing Mexican market while leveraging our logistics expertise in support of an existing and profitable business,” said Steve Magness, USDG’s Vice President, Business Development.
“We believe rail will provide timely, flexible and sustainable distribution capabilities necessary to improve access to energy supplies that will help fuel Mexico’s economic growth.”
QET development activities are underpinned by a multi-year take-or-pay contract with an established operator in the area. Additionally, USDG is actively marketing additional capacity that will be available upon the commencement of operations, which is currently planned for the first quarter of 2018.
QET will be serviced by the Kansas City Southern de Mexico railroad with access to all North American Class 1 railroads.
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