February 8, 2016 [OPIS] - Zenith Energy is expected to commission a 528,000-bbl refined products and crude storage terminal at Port of Barranquilla in Colombia with full operational capability by the end of March, Jay Reynolds, chief commercial officer at Zenith.
This new Colombian terminal startup was pushed back from 2015.
Zenith is a Houston-based midstream company focused on building, owning and operating terminals in Latin America, Africa and Europe. Zenith is an affiliate of global private equity investment firm Warburg Pincus, which had led a line-of-equity equity investment of up to $600 million in 2014 for Zenith to buy, build and operate terminals.
The Port of Barranquilla is located south of Pozos, which is the main discharge port for clean products, and north of Covenas, which is a major crude and fuel oil port in Colombia, and Mamonal, another clean products port.
The new terminal is built by Zenith and Groupo Coremar. Palermo Tanks will hold permitted storage of up to 2.5 million bbl for third-party merchant storage, allowing for the acceptance of clean products, crude, asphalt, vegetable oil and petrochemical streams, to and from a 50,000-dwt dock with approximately 12.5 meters of draft alongside.
