U.S. agricultural processor Archer Daniels Midland Co (ADM.N) said on Thursday it was building a grain export terminal in Nueva Palmira, Uruguay, capable of loading large bulk shipments of corn, wheat, soybeans and soymeal.
Construction will begin immediately and the project was expected to be finished in 22 months, Decatur, Illinois-based ADM said in a release.
The terminal at the mouth of the Uruguay River will include 180,000 tonnes of storage capacity and is expected to have an annual loading capacity of 2.8 million tonnes in its first year of operation, it said.
The facility, located in a specialized trading zone known as Zona Franca, will be able to load post-panamax vessels and capesize vessels, which can carry more than 100,000 tonnes at a time.
The terminal will help to link South American production areas such as Paraguay, Bolivia, Uruguay and Brazil to marketsin Europe, Asia, Africa and Latin America, ADM said.
Construction will begin immediately and the project was expected to be finished in 22 months, Decatur, Illinois-based ADM said in a release.
The terminal at the mouth of the Uruguay River will include 180,000 tonnes of storage capacity and is expected to have an annual loading capacity of 2.8 million tonnes in its first year of operation, it said.
The facility, located in a specialized trading zone known as Zona Franca, will be able to load post-panamax vessels and capesize vessels, which can carry more than 100,000 tonnes at a time.
The terminal will help to link South American production areas such as Paraguay, Bolivia, Uruguay and Brazil to marketsin Europe, Asia, Africa and Latin America, ADM said.