Renewable energy company, BIOX has signed an agreement with International-Matex Tank Terminals (IMTT) for the construction of a second biodiesel production facility in New York Harbour with a yearly capacity of 100 million litres.
The facility will be located inside the IMTT terminal in Bayonne, New Jersey. The agreement also includes a long-term land lease agreement for the plant and the current storage tanks at IMTT. This is the second such facility for BIOX with the first one located in Hamilton, Ontario. Construction is likely to be completed by December 2013.
From the IMTT terminal at New York Harbour which covers a total area of 600 ac, BIOX has acquired 3.5 ac for the second plant. The location was chosen in compliance with the company’s strategy to reduce transportation costs by placing its production facilities close to large-scale petroleum and diesel storage facilities and users and blenders of petroleum and diesel.
The company expects the costs of constructing this facility to amount to $60 million including the process area, utilities, infrastructure, indirect costs and engineering costs. BIOX has an overall plan of expanding its locations to other facilities based on various factors such as logistics, market factors, infrastructure and service providers and potential partnerships. Preliminary planning for the new facility including in-site specifications and design tie-ins are already underway and detailed planning and permission phase will soon be taken up.
BIOX owns biodiesel production facilities in Ontario and Hamilton in Canada.
Source: http://www.bioxgroup.com