Americas News
Irving Oil Invests C$80 Million in Canadian East Coast Marine Fuel Terminal Reactivation
Irving Oil Ltd. (Irving) is spending CAN $80 million ($60.23 million) to reopen a marine fuel and storage terminal on the east coast of Canada that has been shuttered for more than a decade, Canadian media reports.
Reactivating the Dartmouth, Nova Scotia terminal is reported to be part of Irving's business strategy to compete with Exxon Mobil Corp. in the Canadian province's market, and will include the addition of a jetty at its marine terminal in the Halifax Harbour to accommodate tankers.
"We will be supplying our own needs once this terminal is operational in the fourth quarter of next year," said Mike Thompson, Irving's logistics and distribution manager.
"And we are expanding to meet the need of our customers and future customers."
Irving is reported to be expecting to supply three to four tankers per month to the new jetty.
"Reactivating the Irving terminal will undoubtedly improve the overall supply chain for petroleum products in Nova Scotia," added Thompson.
In April, Ship & Bunker reported that Irving had received approval to reopen the Canadian petroleum storage terminal.
