Contura Energy Inc., a leading US coal supplier, has announced its successful bid to significantly increase the company's ownership stake in Dominion Terminal Associates (DTA), a world-class coal export facility located in Newport News, Virginia.
Upon closing, Contura will hold a 65% majority ownership in the facility through its affiliate, Contura Terminal LLC.
"The coal blending capabilities and transportation flexibility provided by DTA serves as a strategic cornerstone of Contura's Trading & Logistics business," said Kevin Crutchfield, Contura's CEO. "This investment supports our continued focus to deliver quality coal products with the reliable service our international customers expect from Contura Energy."
The highly-mechanised DTA facility provides 22 million short tpy of overall capacity and 1.7 million short t of total coal ground storage. Currently, Contura owns approximately a 41% interest in the facility.
Read the article online at: https://www.drybulkmagazine.com/ports-terminals/08032017/contura-increases-export-capacity-through-strategic-dta-ownership-transaction/