Prostar Capital has announced that its newly acquired GTI Statia (GTIS) storage terminal will invest up to $100 million to expand and upgrade operating capacity.
GTIS is one of the largest independent crude and refined product storage terminals serving the U.S. Gulf Coast, Latin American and Caribbean markets. Its customer base includes some of the world’s largest oil producers and traders.
Prostar’s focus is now on executing its capital investment plan for the terminal, driven by demand from new customers to capitalize on emerging regional and global trends in the oil market. The plan involves the investment of up to $100 million over the next two years on tank upgrades, as well as jetty and marine infrastructure improvements.
The upgrades are expected to further GTIS’s role as a major provider of make- and break-bulk services to customers looking to move crude oil by VLCC in and out of the U.S. Gulf Coast, as well as to end markets in the Asia Pacific. T
