Plains All American Pipeline, L.P. announced today a new $77 million terminal project at Patoka, Illinois.
Plains has acquired approximately 120 acres of land at the Patoka interchange and intends to build a 2.6 million barrel crude oil storage and terminalling facility. Subject to unforeseen weather or permitting delays, the Partnership anticipates the new facility will become operational during the second half of 2008, with a total investment of approximately $77 million, including land costs.
Approximately half of that amount is projected to be invested in 2007 with the remainder to be invested in 2008. Matrix Service Industrial Contractors Inc., a subsidiary of Matrix Service Company of Tulsa will act as primary contractor for the project.