13 May 2008 00:58 [Source: ICIS news]
HOUSTON (ICIS news)--Magellan Midstream Partners said on Monday it will invest $240m (€156m) in a refined petroleum products pipeline project to link its East Houston terminal with Port Arthur refineries in Texas.
The company said the pipeline, which will be capable of transporting 150,000 bbl/day of refined petroleum products, is supported by a 15-year agreement with Motiva Enterprises.
The project is expected to be fully operational by 2011, which is consistent with the completion of Motiva's
In addition, Magellan said a pipeline connection will be added between the partnership's East Houston terminal and Motiva's existing
Magellan it will host an analyst conference call on Tuesday to discuss the project.
($1 = €0.65)
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