ADM Completes $85M Port Santos Project
Archer Daniels Midland’s (ADM’s) Brazilian unit announced it has completed its $85 million expansion project at Brazil’s Santos port, bringing the site’s export capacity to 8 million tons per year.
The project, which increased capacity by 33 percent, is reflective of ADM’s drive to remain a leader in Brazil’s grain sector and comes two years after the company secured a license from the Brazilian government to move corn and soybeans through the terminal for the next two decades through 2037.
The company is currently exploring a joint project with other operators to improve rail infrastructure surrounding the port, however, the future of such a project hinges on how the Brazilian government chooses to apply new regulations regarding the extension of licenses to grain traders.
Meanwhile, in the northern part of the country, an expansion project at ADM’s Barcarena terminal -- a 50/50 joint venture with Glencore that will lift capacity fourfold to 6 million tons -- should be completed by June.