WALTHAM, Mass - Global Partners LP today announced a multi-million-dollar expansion and tank refurbishment project that will add 180,000 barrels of ethanol storage capacity and rail access at the Partnership's refined petroleum products terminal in Albany, New York.
Developed jointly with Canadian Pacific Railway Limited (CP) (TSX/NYSE: CP), the project, expected to be operational in 2010, includes modifications that will enable the Albany terminal to schedule the delivery of 80-car trains of ethanol. Global Partners will connect the terminal to CP's adjacent Kenwood Yard rail facility via pipeline. The terminal and rail facility are strategically located along the Hudson River, providing access to the Partnership's terminal network in the Northeast.
"This strategic project further advantages our Albany terminal as a low-cost, logistically situated asset within our supply and distribution chain," said Global Partners' President and Chief Executive Officer Eric Slifka. "The terminal and rail facility serves as an advantaged distribution point for our network of terminals throughout the Northeast."
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