Channel Infrastructure has announced the acquisition of a 25% stake in the Somerton jet fuel pipeline in Melbourne, Australia, for A$14.2 million.
The Somerton pipeline is a key asset in Melbourne's jet fuel supply chain and serves Melbourne Airport.
The acquisition, which was funded through existing debt facilities, aligns with Channel's strategy to enhance its business and expand into Australasia.
It is expected to be cash flow accretive from the 2026 financial year.
The Somerton pipeline is operated by ExxonMobil.
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