Houston-based energy company Kinder Morgan entered into a new, 10-year agreement with US steel producer Nucor Corporation to provide in-plant services for five of Nucor’s facilities in Alabama, North Carolina, South Carolina, and two facilities in Arkansas.
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 at the five facilities which produce some 13.4 million tons of steel products annually.
The company said that the value of the agreement is approximately USD 900 million.
“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,” Schlosser added.
Kinder Morgan owns an interest in or operates some 180 terminals.