August 27, 2014

Bunge to build new port in Australia




Bunge Ltd plans to build a port terminal in Geelong, Victoria, raising competition for the country's largest agribusiness, GrainCorp Ltd, Reuters reports.


The terminal, expected to open at the end of 2015, has a capacity to export 450,000 tonnes of grain a year, and will be the third terminal to start operations or be announced for the Australian east coast, a stronghold for GrainCorp.


"We decided on Geelong due to the capabilities of its port, complementary infrastructure and good transport access for grain supply," said Chris Aucote, Bunge general manager.


Bunge has also applied for planning permission to build its second port terminal, which would have three storage silos. The company opened its first Australian port in Western Australia earlier this year.

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