- L B Foster Co (NASDAQ:FSTR) subsidiary Chemtec Energy Services, LLC has contracted with Howard Energy Partners to design and build five custody transfer metering skids for the delivery of various feedstocks and the transfer of clean-burning, renewable diesel once the fuel is produced at a new facility in Port Arthur, Texas. The financial terms of the contract were not disclosed.
- This new renewable diesel production plant is owned and operated by Diamond Green Diesel, LLC, a joint venture between Valero Energy Corp (NYSE:VLO) and Darling Ingredients Inc (NYSE:DAR).
- Howard Energy Partners is expanding its Port Arthur facility to support Diamond Green Diesel with logistics solutions by constructing several pipelines, rail unloading/loading facilities, truck unloading facilities, tank storage, and a Panamax-class-capable deep-water dock.
- Price Action: FSTR shares are trading higher by 0.80% at $17.60 on the last check Friday.
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