News Post
PBF to buy four US refined product terminals
PBF Logistics says one of its subsidiaries will buy four refined product terminals located on the US East Coast from an affiliate of Plains All American Pipeline LP for $100 million.
The acquisition will approximately double PBF's total capacity, according to a Reuters report.
The terminals are near PBF Energy's refineries in Delaware City, Delaware, and Paulsboro, New Jersey.
The acquisition includes 57 product tanks with total capacity of about 4.2 million shell bbl, connections to several pipeline systems, 26 truck-loading lanes and marine
facilities capable of handling barges and ships.
PBF Logistics said the deal, which will add third-party customers to its revenue base, is expected to close in the second quarter of this year.
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