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KKR Invests $236 Million in Torq Transloading Affiliate
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Torq Energy Logistics, an affiliate of privately held Torq Transloading Inc., has reported that private equity firm KKR & Co has agreed to invest C$250 million ($236 million) to fund Torq's capital program and acquisition strategy.
Calgary-based Torq, which operates half a dozen transloading terminals in the western Canadian provinces of Alberta and Saskatchewan, is attempting to expand rapidly to cash in on the crude-by-rail boom.
Earlier this year, Torq announced that it was developing a roughly C$100 million terminal in Kerrobert, Saskatchewan. The terminal is being engineered to handle two, 120 car unit trains per day, or up to 168,000 barrels per day.
The terminal, which is to be served by Canadian Pacific Railway Ltd, is being designed to handle truck delivered volumes, as well as…
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