Canexus Corp., says it will start Canada’s first pipeline-connected crude oil rail terminal before the end of August, but the Calgary-based chemical manufacturing company and terminal operator is already considering the sale of the Bruderheim, Alberta, facility.
Design issues, construction cost escalations and schedule delays related to expansion efforts at Bruderheim have depressed Canexus’ balance sheet and share price—even as demand for more Alberta crude shipping capacity is climbing.