June 23, 2014 [The Republic] - 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 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.
