Kinder Morgan Energy Partners LP, Houston TX, has entered into an agreement to purchase and operate Vancouver, Canada, Wharves, a bulk marine terminal.
Kinder Morgan is acquiring the facility from British Columbia Railway Co, a crown corporation owned by the Province of British Columbia.
The facility, located at the entrance to the Port of Vancouver, consists of five vessel berths situated on a 139-acre site. The terminal assets include significant rail infrastructure, dry bulk and liquid storage, and material handling systems that allow the terminal to handle over 3.5 million tons of cargo annually. Vancouver Wharves also has access to three major rail carriers connecting to shippers in western and central Canada, as well as the US Pacific Northwest. The transaction is expected to close in the second quarter of 2007.