March 01, 2018 [Tank News International] - PBF Logistics LP is committing more than $100m to a four-year organic growth plan that will include a number of projects across the terminaling, storage and pipeline segments.
The projects will focus on providing PBF Energy’s refineries with access to crude oil and feedstocks and increasing product distribution channels. The company expects the strategic projects to be supported by long-term commitments from its sponsor and other third-parties.
The company has also shared its financial results with fourth quarter 2017 net income attributable to the partners of $23.6m. During the fourth quarter, the Partnership generated cash from operations of approximately $21.5m, earnings before interest, income taxes, depreciation, and amortization (EBITDA) of $39.2m and distributable cash flow of $28.5m.
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