KOCH NITROGEN INTERNATIONAL FINALIZES AGREEMENT TO USE NORTH CAROLINA UREA TERMINAL
WILMINGTON, N.C. – Koch Nitrogen International, Sŕrl has finalized a long-term, exclusive agreement to store urea at a site on the Cape Fear River owned by Carolina Marine Terminal, Inc.
“With this agreement, we'll be able to provide high-quality urea to our local industrial and agricultural customers for years to come,” said Jamil Toubassi, managing director for Koch Nitrogen International. “This location is well-positioned for efficient access by truck and rail.”
By year end, Carolina Marine expects to finish building storage domes with 30,000 tons of capacity specifically for Koch Nitrogen International at the site. The terminal will receive international shipments, including urea produced at the FertiNitro plant in Jose, Venezuela, partially owned by affiliates of Koch Nitrogen International.
Until Carolina Marine's domes are completed, Koch Nitrogen International, whose current arrangement with a Wilmington terminal ends in July, will continue to serve local rail customers via a terminal in New Orleans.
Carolina Marine's expansion will add multi-product terminal capabilities.
“The new urea facility will be added to an existing bulk-handling business,” said Kevin Walker, co-owner of Carolina Marine, which is an affiliate of Atlantic Diving and Marine Contractors, Inc. “This expansion, coupled with a number of other break bulk handling capabilities, will provide tenants and customers access to logistically sound, internationally sourced products.”
“With our long-term urea offtake agreement from FertiNitro and our access to terminals serving the U.S. Gulf and East Coast markets, we can continue meeting our local customer needs and expand our customer base once the new terminal is complete,” Toubassi said.
Koch Nitrogen International is an affiliate of Wichita, Kan.-based Koch Nitrogen Company. These companies and their affiliates produce, distribute and globally market nitrogen fertilizers, including anhydrous ammonia, urea and UAN. The company's fertilizer interests have the capability of producing about 7.5 million metric tons of nitrogen products annually. Koch Nitrogen is a subsidiary of privately held Koch Industries, Inc. (www.kochind.com), which owns a diverse group of companies engaged in trading, investment and operations around the world.
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