Lodestar Energy Group announced in Commissioner’s Court Monday, Sept. 16 that a 227-acre site in El Maton had been chosen as a finalist location to build the South Texas Rail Terminal.
A decision from Matagorda County Commissioners granting tax abatement will be a critical factor in the company’s final site selection. Lodestar is seeking abatement over five years – 85-percent in the first two years; and 75-, 50- and 25-percent, respectively, over the last three years.
“Our 227-acre terminal will be handling energy-related products resulting from the Texas Gulf Coast’s oil and gas exploration as well as its midstream and downstream manufacturing activities,” according to a letter to Commissioners from Lodestar’s President and CEO Brad Howell. “Initially, Lodestar’s South Texas Terminal will be focused on handling inbound and outbound rail traffic resulting from separate fractionation and storage facilities being considered in and around Matagorda County.”
The South Texas Rail Terminal will be a $32 million investment creating about 10 full time jobs. Positions employed at the facility will include field operators for loading, tank car movement and ancillary tasks earning about $60,000 annually; shift supervisors earning about $100,000; and a manager earning about $150,000.
The company hopes to break ground on the rail terminal in the first half of 2020 and become fully operational by the second quarter of 2021.
“Similar to Air Liquide, this project adds critical infrastructure to the county that will benefit us as we work to recruit future industries,” said Mike Ferdinand, Matagorda County Economic Development Corporation executive director. “This project is a long-term investment in the county that would create quality, good-paying jobs.”
Lodestar Energy Group is a Houston-based energy company focused on the development and operation of supply chain infrastructure for the hydrocarbon midstream and downstream environments.