Port officials seek to extend Kinder Morgan lease
Published 12:04 pm Tuesday, August 17, 2010
Documents approved Monday by Port of Vicksburg commissioners would extend Kinder Morgan’s lease to operate there through December 2011.
The deal, subject to the Houston-based company’s approval, would keep the company paying $135,000 in base rent plus 8 percent if revenue exceeds $2.225 million.
Wheat, soybeans and corn products make up most of the 45,504 tons of cargo unloaded at the port so far this year. Port revenue from cargo totaled $514,245.63 through July. Both figures are behind last year’s pace, but numbers have rebounded from 2008 when a new T-dock loading facility was under construction.