VICKSBURG, Miss. (AP) - The Port of Vicksburg and representatives of Kinder Morgan are in talks to extend the company’s contract to operate port facilities.
In October, the five-member Warren County Port Commission voted to tack one more year onto the Houston-based terminals operator’s recurring deal to oversee the crane support platform and ancillary buildings at Port Terminal Circle. The current extension runs through December.
The Vicksburg Post reports (https://bit.ly/1pnVc4s ) port director Wayne Mansfield asked Kinder Morgan, of Houston, Texas, to present a proposal next month that would keep the company in Vicksburg in 2015.
Current lease terms call for the company to pay $135,000 in base rent plus 8 percent if revenue tops $1 million. The incentive jumps to 15 percent if revenue reaches $1.4 million.
Information from: The Vicksburg Post, https://www.vicksburgpost.com
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