News Post
Calumet, MDU set to finish construction on new Bakken diesel refinery
Calumet Specialty Products, together with its 50/50 joint venture partner, MDU Resources, is nearing completion on the
construction of a 20,000-bpd diesel
refinery located in Dickinson, North Dakota.
Calumet made the announcement Friday as part of its quarterly earnings report.
The
refinery, which is expected to be completely supplied with locally-sourced Bakken crude oil, is expected to commence operations during the second quarter of 2015.
The estimated total
construction cost of the
expansion project to the joint venture is approximately $425 million to $435 million, up from the prior estimate of approximately $400 million.
Meanwhile, the total estimated annual EBITDA contribution to the joint venture from this
project is estimated to be $60 million to $70 million, subject to market conditions.
Both the
project cost and EBITDA contribution are to be split equally between the joint venture partners.
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