Texas-based refiner Andeavor to build US$ 100 million fuel storage facility in Baja California
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Andeavor recently announced plans to build a refined products terminal in the state of Baja California, specifically at the Rosarito storage facility of the Comisión Federal de Electricidad (CFE), Mexico’s state-owned utility company.
Under the terms of an agreement with CFEnergía a subsidiary of CFE, Andeavor will sign a long-term lease for the land and will construct and operate the facility, for a total investment of approximately US$ 100 million.
The infrastructure is expected to reduce Andeavor's cost to directly import fuels into Baja California supporting its growing network of ARCO branded stations and other customers in Northwest Mexico.
"The expansion of our branded business in Mexico allows us to further extend our integrated West Coast value chain into this attractive and high growth geography." said Greg Goff, Chairman, President and CEO. "This logistics project will further strengthen Andeavor's ability to cost effectively deliver gasoline and diesel to our customers directly from our refineries on the West Coast."
The company expects the redevelopment of the Rosarito facility to be complete in about two years, pending required regulatory approvals and permits.
Andeavor, based in San Antonio, Texas, operates 10 refineries with a combined capacity of approximately 1.2 million barrels per day in the mid-continent and western United States.