Cando Rail & Terminals has added a multi-purpose rail terminal to its network in Texas, the company recently announced.
With the acquisition of Houston, Texas-based Texas Deepwater Partners, Cando Rail, one of the country’s largest owners and operators of first and last mile rail infrastructure, Cando will position itself for growth, the company said. The acquisition is the third in the last two years.
Cando Channelview Terminal will be a first-class, private railcar storage, staging and transload terminal with the capacity for 900 railcars and surplus real estate for future growth, the company said. The terminal will also connect the BNSF Railway, CPKC, and Union Pacific Railroad networks through the Port Terminal Railroad Association (PTRA).
“We are very pleased to add our first terminal in the United States to our network of terminals,” Brian Cornick, president & CEO of Cando, said. “The Cando Channelview Terminal is a multi-customer, multi-purpose railcar storage, staging, and transload terminal strategically located on the north side of the Houston Ship Channel, serving many of the world’s largest petrochemical producers. This asset is right down the middle of the fairway for Cando, and we look forward to engaging with the PTRA, existing customers, and new customers to enhance their supply chains and expand the terminal. In addition, we are excited to be the exclusive rail partner to Texas Deepwater and support its plans to further develop the site.”
The company said it had focused on organic growth for many years but will now add inorganic growth of its critical rail infrastructure to support shipper-customers and Class I partners. The acquisition will give Cando’s network the capacity to store and stage more than 13,000 railcars. Upon closing, the company will own and operate 15 rail terminals and one short line railway.