31 July 2012 16:06 [Source: ICIS news]
HOUSTON (ICIS)--US agribusiness Archer Daniels Midland (ADM) on Tuesday announced an agreement to purchase a port terminal in the state of Pará in Brazil that will be refitted for the export of grains.
“By adding this strategically located port to our extensive logistics network in Brazil, we will increase our capacity to export grain from western and northern Brazil and further expand our fertilizer operations throughout the country,” said Valmor Schaffer, president, ADM South America.
“This port will enhance ADM’s global reach, better connecting the Brazilian harvest to markets including Europe, the Middle East, and even Asia through the Panama Canal,” Schaffer said.
The facility was designed to handle minerals, and ADM plans to convert it to handle bulk grains and agricultural inputs.
ADM also plans to upgrade the facility to handle Panamax vessels and double its storage capacity. Once complete, the new port will have capacity to handle 3m tonnes/year.
ADM is Brazil’s largest soybean meal exporter, the second largest exporter of soybeans and the Brazilian economy’s seventh largest exporter overall, the company said.
The company currently operates in all of Brazil’s major agricultural ports and owns a port terminal in Santos, São Paulo.In Brazil, ADM processes soy at four facilities, operates the country's largest biodiesel plant, five fertilizer blending facilities, a cocoa processing plant, a sugar cane processing facility that produces ethanol and more than 40 elevators.
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