[NOTE: Marubeni is the owner of Columbia Grain in Portland and a member of the Pacific Northwest Grain Handlers Association.]
Marubeni Corp. bought a 49 percent stake from Williams Partners LP in an oil and gas platform project in the Gulf of Mexico that will cost $1 billion as it seeks to participate in North America’s expanding energy output.
Japan’s biggest grain-trading company is investing in a processing platform with a unit of Tulsa, Oklahoma-based Williams Partners, it said in a statement. The facility will start operating in the first quarter of
Energy contributed almost 20 percent of Marubeni’s 47.1 billion yen ($502 million) profit in the three months ending Dec. 31.