Kinder Morgan sells 50 pct stake in Ohio pipeline to PE firm

Tue Jun 28, 2016 9:30am EDT
 
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June 28 (Reuters) - Kinder Morgan Inc said it agreed to sell half of its stake in an Ohio pipeline project to Riverstone Investment Group LLC and the private equity firm would help fund construction and commissioning of the pipeline.

The Utopia Pipeline project, which is estimated to cost about $500 million, stretches from Harrison County to Fulton County.

The pipeline will connect to Kinder Morgan's existing infrastructure that transports ethane and ethane-propane mixtures to Ontario, Canada. (Reporting by Arathy S Nair in Bengaluru; Editing by Don Sebastian)