Clean Fuel News

Louisiana tank farm looks to spend $100 million to expand for renewable fuels

Originally by Kristen Mosbrucker | August 25, 2021 | The Advocate | Original Article

International-Matex Tank Terminals plans to invest more than $100 million to expand its Geismar marine terminal so it can handle renewable fuel products.

IMTT expects to build six storage tanks, two pipelines and more dock space at the Ascension Parish for renewable diesel, biodiesel and feedstocks to make those products. The pipeline would connect to nearly one-third of the renewable diesel capacity nationwide. The expansion will double storage capacity at the marine terminal and create eight new jobs. The work is scheduled to be completed in 2023.

New Orleans-based IMTT is gearing up to meet demand from Renewable Energy Group Inc. which runs a Geismar biorefinery expected to expand to 340 million gallons of renewable diesel by 2023. 

IMTT has 17 terminals across the country and two in Canada which store bulk liquid products for customers. The business handles a variety of materials from refined petroleum, chemicals and vegetable oil products. 

In Louisiana, the company also has terminals in Gretna and St. Rose. 

In 2014, Macquarie Infrastructure Co. LLC acquired the remaining half of IMTT in a $1 billion deal from the Coleman family, of New Orleans. In December 2020, New York-based private investment firm Riverstone Holdings LLC acquired IMTT for $2.6 billion from MCI. 

The company was established by New Orleans civic and business leader James J. Coleman Sr. in 1939 with a single terminal.

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