Bunge to build export grain terminal in the Pacific Northwest
Bunge North America, the North American operating arm of Bunge Limited has created a joint venture with Itochu and STX Pan Ocean to build and operate a state-of-the-art export grain terminal at the Port of Longview, Washington.
Named EGT Development, LLC, the project will be the first export terminal built in the United States in more than two decades.
The terminal will be capable of handling grain, oilseeds and protein meals. It features a rail loop track unloading system capable of holding four 110-car unit trains at any given time.
The facility will include a highly efficient shuttle train unloading system as well as the capability to unload barges from the Columbia River.
When it is fully operational, the facility will be able to handle more than eight million tonnes annually.
Carl Hausmann, Bunge North America president and CEO said that the Pacific Northwest is already the second largest export corridor in North America but additional capacity will be needed to meet the growing demand for agricultural products in Asia.
All three partners currently ship to the Pacific Rim and this facility will be well-positioned to create a more direct and stable supply base so that we can better serve our operations and customers in Asia, he said.
Itochu is the second largest marketer of grain and food products in Japan, and STX Pan Ocean is one of the world's leading shipping companies of agricultural products.
Bunge has oilseed processing assets in China, an ownership stake in the Phu My port in Vietnam and is a significant seller into the Asian market. Bunge is the majority partner in the project.
Construction will begin this month with the facility accepting product for the 2011 autumn harvest.
To comment, login here
Or register to be able to comment.