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Mitsui to build US petrochem terminal

7:53 AM MST | March 8, 2013

Mitsui & Co. says its wholly owned subsidiary Intercontinental Terminals Co. (ITC; Houston) will invest about $150 million to build a tank terminal on the Houston Ship Channel at Pasadena, TX. The project will involve the construction of new tank units, including harbor and shipping facilities to enable ITC to better respond to surging demand for such facilities from the US petrochemical industry amid its shale gas-driven expansion, Mitsui & Co. says. The tank terminal facility is expected to become operational in the second quarter of 2015. The Houston...

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