Kinder Morgan to spend $106M on land, expansion

Published May 13, 2013 7:50pm ET



HOUSTON (AP) — Kinder Morgan Energy Partners LP said Monday that it will spend $106 million to buy land in Texas and build new storage tanks and a barge dock.

The Houston-based pipeline company said it will buy about 20 acres next to its Pasadena, Texas, terminal. The land will be used for a future crude condensate and refined products terminal with a connection to the Explorer Pipeline, Kinder Morgan said.

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