A plant that imports and processes coconut and palm oils is in the works at the Port of Stockton. An Omaha, Nebraska-based company, Gavilon LLC, says it plans to build the facility and have it operational by mid-2013.
The port has an agreement in place to lease out nine acres out to Gavilon for up to 50 years. The initial contract is four 10 years initially, and includes four 10-year options.
According to the port, when fully operational the oil import facility would receive about 300,000 metric tons of oil annually and generate about $1 million in annual revenue.
Gavilon says it’s partnering with Singapore-based agribusiness company Wilmar International to import and process the palm, coconut and palm kernel oils to serve markets in California and neighboring areas.
Gavilon strategy and development director Alex Fox said in a statement that the partnership would bring “unique product and logistic offerings to the California market which are not available today.”
Thursday, December 8, 2011
