With the new agreement, Kinder Morgan will invest an additional $170 million to add a second unit to its previously announced $200 million condensate processing facility and increase the facility’s total capacity to 100,000 b/d.

The investment also includes the company building an additional 700,000 bbl of storage capacity for product being split at the facility.

The transaction is expected to be immediately accretive to cash distributable to KMP unit holders upon the project’s completion in the second quarter of 2015.

Kinder Morgan’s processing facility will split condensate into its various components, such as light and heavy naphtha, kerosene, diesel and gasoil, and can be further expanded pending additional market interest.

Kinder Morgan previously announced the first phase of its processing facility when it secured the initial commitment of 25,000 b/d of capacity.

The company expects to place the first unit in service in the first quarter of 2014.

Kinder Morgan Crude/Condensate pipeline is an approximately 180-mile pipeline that transports crude and condensate from the Eagle Ford Shale in South Texas to the Houston Ship Channel.