Bunge and Aceitera General Deheza S.A. (AGD) announced they will jointly invest US$100 million in Puerto General San Martin’s T6 industrial complex and port terminal. Puerto General San Martin is an inland port in Argentina that sits on the Paraná River.
Currently, the terminal is capable of unloading 600 railway cars and more than 1,200 trucks per day. It is used to load seafaring ships with dry bulk and vegetable oils, and, according to AGD, it handled 13 million tons of exports last year. The terminal is jointly operated and managed by both Bunge and AGD.
The investment includes a three-year plan that aims to increase the operational capacity of the complex.
“We have been working hand-in-hand in pursuit of National Development,” said Enrique Humanes, chief executive officer of Bunge’s Southern Cone. “We believe that the key to achieving a sustainable and harmonious community development regionally and nationwide lies in providing solutions between all the actors who are a part, towards the achievement of objectives and joint benefits.”
AGD was founded in 1948 and is a privately-owned oilseed crushing company in Argentina. The agribusiness crushes more than 20,000 tons of oilseed daily, has the capacity for 3.3 million tons of bulk storage and employs of 2,500 people.
Bunge Argentina is a subsidiary of Bunge Ltd., a global agribusiness company, which includes fertilizers, food and energy, among other businesses, with global operations and strategically distributed assets, addressing the whole agricultural-food industry chain spectrum.
The investment of T6 terminal with AGD is the latest in a series of transactions for Bunge, which has been partnering with companies across the world as it seeks to grow its business.
Bunge Agribusiness Singapore Pte Ltd., a wholly owned subsidiary of Bunge Ltd., and Oleo-Fats, Inc. (OFI), a wholly owned subsidiary of D&L Industries, in September entered into distribution agreements for the food service, retail and food processing industries in the Asia-Pacific region.
In August, Cargill and Bunge announced their intention to enter into an agreement under which Bunge will acquire from Cargill two oilseed processing plants and businesses in the Netherlands and France.
In July, Bunge announced a joint venture expansion with Amaggi in São Paulo, Brazil, to operate on the route known as the Northern Corridor via the Tapajós waterway. Also in Brazil, Bunge acquired Moinho Pacifico, a Brazilian wheat flour miller, in August 2015.
In June, Bunge announced a joint venture with Wilmar, a crush operation in Vietnam, to further expand into Asia.