A grain-handler consortium plans to build a new terminal at Port Kembla in New South Wales with annual capacity of 1.3 million tons.
Logistics business Qube Holdings has formed a joint venture with Noble Resources, the agribusiness unit of Noble Group, to develop a multi-user handling facility at Port Kembla in Australia’s New South Wales. Currently China’s biggest grain trader, COFCO, is in talks to buy Noble Resources in a deal that would value the unit at approximately $1 billion. The terminal will have an annual capacity of 1.3 million tons and will put further competitive pressure on Grain Corp. and its largest port also based at Port Kembla. Cargill and Emerald Grain have each been granted the option of acquiring up to a 20% stake in the new venture, Quattro Grain, which is expected to be operational by late 2015 or early 2016. Qube Holdings has stated that New South Wales Ports would extend and deepen the berth at Port Kembla in order to accommodate Panamax vessels.
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