Houston-based bulk liquid storage company Contanda Terminals has signed a multi-year contract with the Port of Houston for 339 acres on the Houston Ship Channel.
Contanda will use the land to double its storage capacity over the next five years by building a terminal with deep-water access.
The terminal will be built in phases and will include docks for ships and barges, a processing centre and pipelines. It will have access for railcars and tanker trucks.
Contanda already operates three storage terminals in the Houston area and 13 more elsewhere in North America.
All told, its storage facilities have 7.25 million barrels-worth of storage capacity.