FTAI Infrastructure (FIP) said Monday its FTAI Energy Partners subsidiary agreed to acquire the Port Arthur Terminal in Texas and a 50% interest in a diluent recovery unit in Alberta for about $255 million.

The company said it expects the assets to generate about $50 million of annual EBITDA over the next 12 months.

The transaction will be financed through assumed debt and an acquisition debt facility and is expected to close in Q4 2026, it said.