According to the company, the closing is anticipated to take place within 120 days.
Blackwater Midstream is entering into this transaction with a view toward developing the approximately 435 acres on the Mississippi River as a tank farm and terminal in phases over a number of years.
Michael Suder, CEO of Blackwater Midstream, said: This site is ideal for our storage facility development and is primed for construction to commence. The site’s location is optimal for meeting the increasing demand for domestic fuel and chemical storage.
