06 March 2013 16:16 [Source: ICIS news]
HOUSTON (ICIS)--Oiltanking Partners plans to invest $44m (€34m) to expand its liquefied petroleum gas (LPG) import/export terminal on the Houston Ship Channel, the tank storage and services company said on Wednesday.
Oiltanking said it would construct a new vessel dock and add infrastructure to existing docks, "with the capability of handling significantly more LPG vessels at multiple docks."
The company expects to complete the expansion by the end of 2014.
“This dock expansion project will provide incremental loading capacity and position us well to capitalise on the robust international demand for LPGs," CEO Anne-Marie Ainsworth said.
Oiltanking also said that under an amended agreement with ?xml:namespace>
Oiltanking Partners is part of Germany-based Oiltanking Group, one of the world’s largest independent tank storage providers for petroleum products, chemicals and gases.
In related industry news on Wednesday,
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