Archer Daniels Midland (ADM) has declared its plans to build a new port terminal to handle the growing demands for soy, corn, soybean and wheat products in the Asian, African, Latin American and European countries.
The new terminal will be located at Nueva Palmira in the Zona Franca, a special trading zone in Uruguay. The proposed terminal will have the capability to handle bigger-sized Capesize and post-Panamax vessels.
The proposed port terminal of ADM at Nueva Palmira will have 180,000 metric tons of storage capacity. The new terminal when completed, during its first year of functioning is anticipated to dispose of around 2.8 million tons of goods and employ around 100 people to manage its operations. The construction of the terminal is slated to start soon and will get completed in a period of 22 months.
Domingo Lastra, ADM South America’s president, stated that his company will continue to make investments in South America to expand its processing and transportation capabilities. He added that the new port terminal will play an important role in the regional export operations to handle the growing crop production in countries such as Brazil, Bolivia, Paraguay and Uruguay.
Source: http://www.adm.com/