Kinder Morgan Terminals signs agreement with Nucor

Kinder Morgan, Inc. (KMI) has announced it has entered into a new 10 year agreement with Nucor Corporation to provide in-plant services for five of Nucor’s facilities at Decatur, Alabama; Hertford, North Carolina; Berkeley, South Carolina; and two facilities at Blytheville, Arkansas. The five facilities produce approximately 13.4 million tpy of steel products. KMI will be handling approximately 14.8 million tpy of scrap steel, direct-reduced iron, pig iron and other feedstocks, as well as providing other ancillary services. The value of the agreement is approximately US$900 million.

“Nucor is one of our largest customers in our terminals division. This new agreement ensures that KMI will continue to provide handling, processing, warehousing and marine services to Nucor, the largest recycler and steel producer in North America,” said KMI Terminals President John Schlosser. “These facilities provide Nucor and other customers access to our growing national network of marine and rail terminals. This agreement also reconfirms KMI’s commitment to growing our terminals business.”

Kinder Morgan, Inc. is one of the largest energy infrastructure companies in North America. It owns an interest in or operates approximately 84 000 miles of pipelines and approximately 180 terminals. The company’s pipelines transport natural gas, gasoline, crude oil, CO₂ and other products, and its terminals store petroleum products and chemicals, and handle bulk materials like coal and petroleum coke.

Adapted from press release by Francesca Brindle

Read the article online at: https://www.tanksterminals.com/storage-tanks/07072016/kinder-morgan-terminals-nucor-corporation-sign-10-year-services-agreement-3659/