By Paul Morden, from www.theobserver.ca The Observer
With the paint barely dry on an initial $40 million in capital improvements, Provident Energy is already planning to spend another $10 million at its Corunna Storage Terminal.
Randy Alwood, senior manager of local operations, said the new investment follows recent news Provident has entered a 10-year agreement with an undisclosed Sarnia company for use of two of the underground caverns on the 1,000 acres of land on Highway 40 purchased more than one year ago from Dow.
He and other Provident officials welcomed visitors to the facility on Tuesday afternoon for an official opening ceremony.
“We’ve barely started operations and the facility is certainly on track to exceed probably our wildest expectations,” said president and CEO Doug Haughey.
The site’s caverns store hydrocarbons for industry, and the initial improvements included building a 16-spot rail loading facility.
Seventeen people are working at the site, Alwood said.
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Observer Article ID# 3322451