OCI Partners LP Acquires Additional Ammonia Tank Storage Capacity
NEDERLAND, Texas, Dec. 23, 2013 /PRNewswire/ -- OCI Partners LP, a Delaware limited partnership (the "Partnership"), announced today that it has acquired a 20,000 metric ton ammonia tank from Lucite International for additional ammonia storage capacity on-site at Beaumont, Texas.
By acquiring the tank, OCI Partners LP will have additional ammonia storage capacity and access to an ammonia pipeline. The access to the pipeline will allow OCI Partners LP the flexibility to switch a larger portion of its ammonia sales via pipeline as opposed to barge providing more flexibility on a need-be basis.
In addition, the acquisition of the ammonia tank will facilitate the installation of ammonia truck and railcar loading capacity which will help diversify OCI Partners LP's customer base.
About OCI Partners LP
OCI Partners LP (NYSE: OCIP) is a master limited partnership that owns and operates a recently upgraded, integrated methanol and ammonia production facility that is strategically located on the Texas Gulf Coast near Beaumont. The facility currently has a methanol production capacity of 730,000 metric tons per year and an ammonia production capacity of 265,000 metric tons per year.
This press release contains forward-looking statements. Statements that are predictive in nature, that depend upon or refer to future events or conditions or that include the words "believe," "expect," "anticipate," "intend," "estimate" and other expressions that are predictions of or indicate future events and trends and that do not relate to historical matters identify forward-looking statements. These forward-looking statements involve certain risks and uncertainties, including, among others, that our business plans may change as circumstances warrant and our new term loan may not close as expected. For more information concerning factors that could cause actual results to differ materially from those conveyed in the forward-looking statements, please refer to the "Risk Factors" section of the Partnership's registration statement on Form S-1, as amended (File No. 333-189350), filed with the U.S. Securities and Exchange Commission. The Partnership undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, changed circumstances or otherwise, unless required by law.
SOURCE OCI Partners LP