Kinder Morgan Terminals Signs 10-Year Agreement with Nucor Corporation
By Business Wire News
By Business Wire News
Kinder Morgan, Inc. (NYSE: KMI) today 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 tons of steel products annually. KMI will be handling approximately 14.8 million tons annually 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 $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. (NYSE: KMI) is the largest energy infrastructure company 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. For more information please visit www.kindermorgan.com.
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