U.S.-based, farmer-owned cooperative and global grain company, CHS Inc. has announced it has acquired 29.45% ownership in Sitio 0, a greenfield export terminal at Necochea, Argentina. Other owners include the South America grain companies of E-Grain, Alejandro Nari, and Lartirigoyen. The Sitio 0 terminal is a deep-water port capable of loading Panamax vessels at 1,200 metric tons per hour and has 119,000 metric tons of storage capability. CHS will use the port to load soybeans, corn, wheat, sorghum, barley, and soybean meal and the port will ensure CHS greater market access to growing markets in China and the Asian-Pacific region. CHS has been building its presence in South America for more than a decade in line with its plan to expand its infrastructure and global commodities assets. The Sitio 0 export terminal is expected to be operational by May 2015.
To receive relevant news stories with summaries provided by GAI Research & Insight, subscribe to Global AgDevelopments, our free bi-weekly enhanced eNews service