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Kinder Morgan Energy Partners invests $96 M to acquire/expand terminal assets; acquisitions for year up to 11 Jun 2005 total nearly $400 M.
(From Chemical Business NewsBase - Press Release)
Kinder Morgan Energy Partners LP (Kinder Morgan Energy) announced two separate terminal acquisitions totalling $48 M, including capital to enhance operational efficiency, and an additional $48 M investment for two major terminal expansion projects. The largest of the transactions is the purchase of a refined petroleum products terminal in New York Harbour from ExxonMobil Oil Corp. The other acquisition involves a dry-bulk river terminal in Kentucky. The expansion projects will take place at the company's existing liquids terminal complex on the Houston Ship Channel and its Shipyard River bulk terminal in South …
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