Pembina buys 232 acres of industrial land near Edmonton for $22M
Bought property in Alberta Industrial Heartland as part of plan to build out company's Nexus terminal
CALGARY—Pembina Pipeline Corp. says it has purchased a 232-acre “well-developed” industrial site north of Edmonton for approximately $22-million.
According to Pembina, it bought the land in the Alberta Industrial Heartland as part of a plan to build out the company’s larger Nexus terminal.
The company said the new land—dubbed the “Heartland Hub”—will act as a receipt and delivery terminal and includes rail, terminalling and storage facilities.
It includes more than 5,000 linear feet of existing rail currently serviced by Canadian National (CN) Rail, and is located next to 160 acres of existing Pembina lands the company said can be developed for future merchant storage and rail expansions.
The company also announced a multi-year agreement with an undisclosed “major North American refiner” for service to load and ship as many as 40,000 barrels per day of various grades of crude oil at its Nexus terminal.
Pembina said the service begins immediately.
“Pembina’s purchase of this property in the Heartland area and our agreement with a major North American refiner demonstrates the growing demand for terminalling services and the business model being built-out by Pembina’s midstream business,” the company’s vice-president of midstream services Bob Jones said in a statement.