Kinder Morgan Energy Invests $106 Mln to Expand Terminal; Shares Slightly Higher

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Kinder Morgan Energy Partners, L.P. ( KMP ) will invest $106 million to purchase approximately 20 acres adjacent to its Pasadena, Texas, terminal, build nine new tanks with a storage capacity of 1.2 million barrels at its Galena Park terminal, and construct a new barge dock that is expected to help relieve current barge congestion in the Houston Ship Channel.

The new barge dock, which will enhance existing infrastructure at the Pasadena terminal, will provide additional capacity to handle up to 50 barges per month.

KMP shares are up 0.10% to $88.19, amid a 52-week range of $74.15 - $92.99.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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This article appears in: Investing , Commodities

Referenced Stocks: KMP

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