"We're announcing an investment for the construction of a new agro-industrial port in Timbues, on the Parana River," presidential spokesperson Manuel Adorni told a news conference, referring to a town some 50 km north of the city of Rosario,” Reuters reported.
"The investment will be around $550 million. Construction will begin this month," he said, without giving more detail.
Argentina is one of the world's top two exporters of soybean oil and meal, and third in corn exports.
Companies such as Bunge, Cargill and Louis Dreyfus already have grain loading and unloading terminals in the region.
The Rosario Stock Exchange estimates the 2023-2024 harvests of corn and soybean will bring in 49.5 million metric tonnes of soybeans and 57 million tonnes of corn.
Copyright © 2024. All rights reserved. Seatrade, a trading name of Informa Markets (UK) Limited.
Add Seatrade Maritime News to your Google News feed.  |
