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Houston Energy Firm Buys GATX Terminal and 90-Mile Pipeline for Estimated $6.39 Mil

ORLANDO-The 45-acre fuel-storage facility in suburban Taft, FL is part of a $1.15 billion, 18-terminals nationwide package purchased by Kinder Morgan Energy Partners.

By Alex Finkelstein | Updated on March 02, 2001

ORLANDO-A 45-acre fuel-storage facility in suburban Taft, FL and a 90-mile pipeline network from the Port of Tampa on the west side of Florida to Taft on Orlando’s south side are owned today by Houston-based Kinder Morgan Energy Partners.

The Texas firm bought the local assets and 17 other terminals nationwide for $1 billion in cash and $150 million in debt from Chicago-based GATX Corp. Neither party broke out the value of the Orlando area asset.

The local terminal and pipeline would carry an estimated $6.39 million tag, based on the total sale price of $1.15 billion for 18 terminal locations. GATX has owned the Orlando area asset since 1971. The plant has a staff of 50.

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