Tanco Terminals has been a Burns Harbor tenant for a long time, an executive said, and now the company is investing about $8 million into the port.
Ports of Indiana-Burns Harbor on Tuesday announced that Tanco Terminals plans to invest $8.2 million to construct an expansion of its liquid tank farm at the harbor.
Tanco will add a sixth rail loading truck, a new truck scale, three storage tanks and multimodal transload equipment to handle products by ship, barge, rail and truck. Two storage tanks will have a 36,000-barrel capacity, and the third will have 42,000 barrels, according to a news release from Ports of Indiana-Burns Harbor.
Michael Gard / Post-Tribune
The Federal Weser, which sails under the flag of the Marshall Islands, is docked at the International Port of Indiana in Burns Harbor on Tuesday, August 24, 2021. (Michael Gard for the Post-Tribune)
The project also includes a new office and maintenance hub, steam boilers, thermal fluid heater, multiple electric motors for mixers, high viscosity-capable pumps for multimodal transfers, and improved safety and emergency response measures, according to the news release.
“The economic impact is significant,” said Kip Middendorf, vice president and managing director for Wolf Lake and Tanco Terminals. “The products stored at Tanco predominantly are liquid asphalt that goes into the Northwest Indiana market for road construction, as well as a variety of other ways.”
Tanco Terminals was founded at Burns Harbor, Ports of Indiana Director of Communication Eric Powell said in an email. The organization has operated out of the harbor since its founding in 1977.
The $8.2 million investment will help increase the total value of products put through the facility, Middendorf said, adding that Ports of Indiana receives “a small amount of money” for products that pass through.
“With this expanded storage capacity, there will be additional volume of product put through Tanco Terminals, which the port will benefit from,” Middendorf said.
Investments like this not only help both Tanco Terminals and Ports of Indiana, but it also helps the local economy, Middendorf added. The investment will help secure jobs for both companies.
“That really is the mission of the Ports of Indiana,” Middendorf said, “to create jobs, create tax value and to benefit all of Northwest Indiana and the rest of the state.”
It’s natural for businesses to grow, and Middendorf believes that this investment will help show both Ports of Indiana and Tanco Terminals’ growth.
“The port is under fantastic leadership at this time,” Middendorf said. “We at Tanco have nothing but high hopes for the future of our businesses and all businesses within the port because of that leadership.”
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