Dakota Plains crude-related facility plans advance

|About: Dakota Plains Holdings, Inc. (DAKP)|By:, SA News Editor

Dakota Plains (DAKP +2.1%) says it and its joint venture partner have approved the expansion of oil storage at its Pioneer Terminal in New Town, N.D., with construction of a third 90K-barrel storage tank set to begin immediately.

DAKP says regulatory permits and engineering design are complete, and the storage tank is expected to be operational by summer 2015.

DAKP says the addition of a third storage tank, recently announced Hiland Partners gathering pipeline and anticipated expanded rail service at the terminal will increase oil storage capacity to 270K bbl/day of crude from 180K.