Chinese food trader COFCO wins 25-year concession for new port terminal in Brazil
COFCO International Brazil SA (COFCO Brazil), a branch of COFCO International, the overseas agriculture platform of China's leading food trader COFCO, recently announced that it had won a 25-year concession for an agriculture bulk terminal at the Port of Santos in Brazil.
The STS11 terminal, expected to be fully operational in around 2025 or 2026, will help increase COFCO's port capacity in Brazil to 14 million tonnes, according to COFCO Brazil.
The company said the investment will provide cooperative farmers with more choices and create new opportunities for COFCO Brazil to cooperate with local industry partners and logistics companies.
It's learned that COFCO Brazil would also invest 764.8 million reals (about 160.7 million U.S. dollars) in the expansion and upgrading of the terminal facilities within the 25-year contract period.
Operating in Santos since 2002, COFCO International has developed a whole agricultural industrial chain integrating storage, processing, logistics and trading in Brazil, with partnership forged with more than 7,000 farmers.