Los Angeles to build $470 million crude oil terminal

Plans to construct a crude oil import terminal at the Port of Los Angeles have been approved by the Los Angeles City Council this week, according to local reports.
According to the Los Angeles Business Journal, the Plains All American Pipeline terminal could handle up to 25% of Southern California's petroleum imports. It is to be built on Pier 400 and would employ existing pipelines owned by Plains All American.
The new terminal's initial capacity has been pegged at 350,000 barrels per day (bpd). Storage facilities are scheduled to hold some 4 million barrels for transfer to regional refineries.
The project's construction costs have been estimated at close to $470 million.

Source: http://www.portworld.com