Green Plains, Jefferson Energy Expect Ethanol Terminal in Texas to be Ready Mid-2017

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Researched by Industrial Info Resources (Sugar Land, Texas)--Leading fuel ethanol producer Green Plains Incorporated (NASDAQ:GPRE) (Omaha, Nebraska) and Jefferson Energy Companies (The Woodlands, Texas), a subsidiary of Fortress Transportation and Infrastructure Investors LLC (NYSE:FTAI) (New York, New York), expect their import/export terminal project in Texas to be ready by mid to late-2017.

The estimated $55 million, 50:50 joint-venture terminal and rail project involves construction of four new 100,000-barrel storage tanks, coupled with seven existing tanks, and will bring the total storage capacity to more than 1 million barrels at the Port of Beaumont.

The project involves the construction of new rail infrastructure and an off-loading system to handle up to 120 railcars that will bring fuel ethanol to the Gulf Coast from Green Plains' 17 ethanol production facilities, which are mainly in the Upper Mid-West. Green Plains' marketing and distribution business handles ethanol distribution for a number of ethanol producers.

The site has direct access to multiple means of transportation, including maritime Aframax vessels, inland and coastal barges, trucks, and unit trains with direct mainline service from the Union Pacific Corporation (NYSE:UNP) (Omaha, Nebraska); Burlington Northern Santa Fe (BNSF) (Fort Worth, Texas), which is a unit of Berkshire Hathaway Incorporated (NYSE:BRKA) (Omaha); and Kansas City Southern (NYSE:KSU) (Kansas City, Missouri).

The venture is already considering a Phase II expansion, but would need to secure all necessary contracts for the existing capacity before further developing the terminal.

Green Plains has been enjoying a solid 2017. Shares of the fourth-largest U.S. ethanol producer have increased 10.3% over the first quarter, after it acquired three existing fuel ethanol plants last year. The Green Plains Cattle Company, a subsidiary, acquired two cattle-feeding operations in Colorado and Kansas.

Also in 2016, the company acquired Fleischmann's Vinegar Company Incorporated (Cerritos, California), the world's largest manufacturer and marketer of food-grade industrial vinegar, for $250 million. Fleishmann's operates seven vinegar production facilities nationwide. Vinegar contains about 6% alcohol in the form of undenatured ethanol.

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