Drexel Hamilton To Invest In Utah Oil-By-Rail Plan

Investment firm Drexel Hamilton Infrastructure Partners LP and rail operator Rio Grande Pacific Corp. have unveiled plans to partner on the financing and construction of a rail line for shipping heavy crude from Utah.

Anna Kachkova, Contributor

Tue, 05/14/2019 - 09:54 AM

Drexel Hamilton To Invest In Utah Oil-By-Rail Plan

Investment firm Drexel Hamilton Infrastructure Partners LP and rail operator Rio Grande Pacific Corp. have unveiled plans to partner on the financing and construction of a rail line for shipping heavy crude from Utah. The proposed $1.5 billion link would be used to send roughly 400,000 barrels per day (bbl/d) of oil from the Uinta Basin to interconnections with the U.S. Gulf Coast.

The partners said on May 10 that the link would extend about 80 miles between potential terminal locations near oil operations in the Uinta and connections with Union Pacific and BNSF Railway near Soldier Summit.

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