Dec 22, 2015 at 11:44 AM CST
ADM – Archer Daniels Midland Company: ADM Announces Agreement to Develop New Ethanol Hub in Selma, North Carolina
CHICAGO, Dec. 21, 2015-Archer Daniels Midland Company (NYSE: ADM) today announced an agreement with Kinder Morgan, Inc. (NYSE:KMI) and Bailey Feed Mill to construct a new unit train rail facility and ethanol offloading system in Selma, North Carolina.About ADM
KMI will invest in and construct the new facilities, which will be located at the Bailey Feed Mill and will have the ability to offload up to 96 railcar-long unit trains in a 24-hour period. KMI will also build a new pipeline, approximately 2.6 miles in length, to connect the unit train offload system to their vast tank farm in Selma, allowing ethanol to be distributed to blending terminals in Selma and the surrounding markets.
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ADM and KMI anticipate having inter-terminal connections in service as early as the third quarter of 2016, with the remainder of the project expected to be complete by the end of 2016.
'We are pleased to work with ADM and Bailey Feed Mill on this transportation solution for ethanol deliveries,' said David Halphen, vice president of business development for KMI's Products Pipelines. 'This project will reduce the ethanol delivery carbon footprint through a more efficient use of rail capacity and pipeline transportation.'
About Kinder Morgan
Kinder Morgan, Inc. (NYSE: KMI) is the largest energy infrastructure company in North America. It owns an interest in or operates approximately 84,000 miles of pipelines and 165 terminals. The company's pipelines transport natural gas, gasoline, crude oil, CO2 and other products, and its terminals store petroleum products and chemicals, and handle bulk materials like coal and petroleum coke. For more information please visit www.kindermorgan.com.
About Bailey Feed Mill
Bailey Feed Mill owns and operates a bulk handling and liquid transload facility in Selma, NC as well as a network of grain elevators in the Central North Carolina area. They are a local family owned company that has been providing efficient solutions to the marketplace for over 60 years.
For more than a century, the people of Archer Daniels Midland Company (NYSE: ADM) have transformed crops into products that serve the vital needs of a growing world. Today, we're one of the world's largest agricultural processors and food ingredient providers, with more than 33,000 employees serving customers in more than 140 countries. With a global value chain that includes more than 460 crop procurement locations, 300 ingredient manufacturing facilities, 40 innovation centers and the world's premier crop transportation network, we connect the harvest to the home, making products for food, animal feed, industrial and energy uses. Learn more atwww.adm.com.
ADM - Archer Daniels Midland Company issued this content on 2015-12-21 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 2015-12-21 21:09:40 UTC
Original Document: http://www.adm.com/en-US/news/_layouts/PressReleaseDetail.aspx?ID=699