Bulkmatic invests US$ 100 million to build fuel storage facilities in Hidalgo and Sonora

12 June, 2018

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Bulkmatic Transport Co., a dry bulk carrier based in Indiana which currently builds a fuel storage terminal in Salinas Victoria, Nuevo Leon, recently announced a US$ 100 million investment to build two additional facilities in the municipalities of Hermosillo, Sonora and Tula, Hidalgo, in Northern and Central Mexico respectively.

In an interview to El Economista paper, Francisco Soto, president of Bulkmatic Mexican subsidiary, said the company plans to invest US$ 150 million in the three sites.

The first facility to start operations will be the one in Monterrey, which will be inaugurated in the first quarter of 2019 with a storage capacity of 700,000 barrels, equivalent to 10 days of fuel consumption in Monterrey.

The fuel will be imported from Texas and supplied through rail by Kansas City Southern. Soto said that there are already medium-term plans to install more storage tanks with a capacity of 60,000 barrels for gasoline and diesel.

For the Tula facility, the company is in process to obtain the proper local and federal permits. It will have a capacity of 690,000 barrels of fuel and its tentative opening date is during the first half of next year.

In the case of the Hermosillo site, whose permits are also in process, it will have a capacity of 300,000 barrels and is projected to be ready to operate by the end of 2019, Soto said.

It is, he said, a great commitment to Mexico, where the company has 20 years of experience and today, more than ever, the country is generating great expectations of investment in various areas of the energy industry.

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