13 May 2013 23:02 [Source: ICIS news]
HOUSTON (ICIS)--Kinder Morgan Energy Partners (KMP) will spend $106m (€82m) to buy more land and build new storage tanks and a dock at the Houston Ship Channel, the company said on Monday.
KMP said the investment will include purchase of 20 acres (8 ha) next to its existing terminal in Pasadena, Texas; construction of nine new tanks with storage capacity of 1.2m bbl at its Galena Park terminal; and a new barge dock to relieve congestion on the Houston channel.
The acreage will be used for a future crude condensate and refined products terminal with a connection to the Explorer Pipeline. The new barge dock will enable the Pasadena terminal to handle up to 50 barges a month.
($1 = €0.77)
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections