Kansas City Southern expects growth in crude-by-rail to Texas
HOUSTON, July 19
HOUSTON, July 19 (Reuters) - Kansas City Southern expects its movements of crude by rail to Texas to grow, and remains committed to building a new crude terminal in Port Arthur once permits are approved, executives told analysts on Friday.
The railway now moves up to two trains of crude oil per week to southeast Texas, and that will increase as the Port of Beaumont builds new crude storage tanks to complement rail unloading facilities there.
Executives said the railroad's loop track to those facilities connecting to its mainline was finished earlier this week, and will be able to handle a 120-car crude train per day once the port finishes building the storage.
That is in addition to Kansas City Southern's plan to build its own crude terminal operation in Port Arthur, Chief Executive David Starling said.
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