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Kinder Morgan to invest $106M in Texas

Keywords: Tags  Kinder Morgan, Houston Ship Channel, barge dock, storage facility, Texas terminals, storage tanks, Thorsten Schier

NEW YORK — Kinder Morgan Energy Partners LP is planning to invest $106 million in Texas.

The funds will be used to buy 20 acres of land adjacent to its terminal in Pasadena, Texas; build nine new tanks at its terminal in Galena Park, Texas, with a storage capacity of 1.2 million barrels; and construct a new barge dock that is expected "to help relieve current barge congestion in the Houston Ship Channel," the company said.

"The purchased acreage will be used to support a future crude condensate and refined products terminal capable of handling 10 150,000-barrel tanks with a connection to the Explorer Pipeline," the Houston-based company said, adding that the barge dock will provide additional capacity to handle up to 50 barges per month.

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