Ä¢¹½Ö±²¥., the largest farmer-owned cooperative in the United States, has established an agreement with Brazilian railway operator Rumo to build a terminal at the Port of Santos as part of a new 50/50 joint venture. Located in the state of Sao Paulo, Brazil, the terminal is expected to handle 9 million tons of grains and 3.5 million tons of fertilizers annually.
“Brazil is a growing producer and shipper of crops that Ä¢¹½Ö±²¥ global customers rely on, and this project creates long-term value for our U.S.-based owners by strengthening the position of Ä¢¹½Ö±²¥ as a competitive supplier of grains and oilseeds for customers around the world,” said John Griffith, executive vice president, Ä¢¹½Ö±²¥ ag business and Ä¢¹½Ö±²¥ Hedging.
The beginning of construction is subject to the fulfillment of certain conditions that are customary for this type of transaction, including licensing, legal and regulatory approvals. After these steps are completed, construction is estimated to take about 30 months.
