Noble Grain, which has majority Chinese investors, is the new shareholder of Sitio 0, the company that is building a new terminal at the Argentinian port of Quequén. Noble has obtained its equity stake from the US cooperative CHS, which formally had a holding of 30%. However, after the sale, each company will hold a 22.75% stake in the company.
Other investors in Sitio O R the Argentinian agribulk companies E-Grain, A&J Nari, Alia & Cia, and Lartirigoyen.
Phase I of Sitio 0 is currently under construction. It will have a 119,000-tonne capacity warehouse and a loading capacity of 1,200 tonnes per hour. Phase II will include the addition of a further berth and 100,000 tonnes of extra warehousing.
Forecasts suggest that the terminal, which has a 45-year operating concession, should begin operating in May 2015.
BC