October 5, 2012
Glencore acquires interest in Russian grain terminal
Press release
Glencore International plc, has, through a wholly-owned subsidiary, entered a 50-50 joint venture agreement with Kernel Holding S.A. through which it has acquired from the EFKO Group an interest in a deep sea grain export terminal at the Port of Taman, Russia.
Strategically located on Russia's Black Sea coast, the Port of Taman is in close proximity to Southern Russia's main grain producing region. With an annual throughput capacity of 3 million tonnes, the grain export terminal will enable Russian grain to be exported throughout the year.
The acquisition will increase the competitiveness of Russian grain on the world market and will also enable Glencore to further meet the needs of its customers across Europe, the Middle East and Africa.
