VH Global commits $35m to fund US expansion
LONDON, UK: VH Global Sustainable Energy Opportunities plc – a London-listed investment company advised by Victory Hill Capital Advisors LLP – announced its commitment of $35m to fund the expansion of one of its terminal storage assets in South Texas, increasing the throughput and on-site blending capacity to cater for the increasing growth, and displacement of highly-pollutive fuel sources produced in Mexico.
The focus of this expansion is driven by increasing tenant demand and serving the needs of its current tenants to increase the storage volume and unloading capacity as follows:
– Adding a further 340,000bbls of tank storage capacity, taking the post expansion total to 865,000bbls of the combined capacity of both assets
– Increasing rail car unloading capacity
– Increasing draught of liquid cargo dock to accommodate larger vessels
– The expanded capacity will mean there will be lower turnover, therefore, having a greater positive impact
The commitment is expected to be deployed over the next 12 months, with the expansion being executed and overseen by the Company’s operating partner, Motus Energy LLC, which will continue to operate the current assets.
On completion of this construction, total funds deployed to this asset will be US $96m USD across two terminal storage assets.
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