ADM to build port terminal in Nueva Palmira, Uruguay

Archer Daniels Midland Company (NYSE: ADM) announced today the construction of a port terminal at Nueva Palmira, Uruguay, to meet corn, soy, wheat and soybean meal demands in Europe, Asia, Latin America and Africa. Located in the Zona Franca (specialized trading zone), the terminal will be the only facility at Nueva Palmira with the ability to load large, post-Panamax and Capesize vessels.

“ADM continues to invest in South America as we expand the size and reach of our processing and transportation operations in the world’s key agricultural regions,” said Domingo Lastra, president, ADM South America. “As crop production in Paraguay, Bolivia, Uruguay and Brazil continues to increase, this new port terminal will be an integral part of regional export operations and will enhance our ability to connect the South American harvest to homes all over the world.”

ADM’s Nueva Palmira port terminal will have a storage capacity of 180,000 metric tons. It is expected to handle 2.8 million metric tons of goods in its first year of operation, and it will employ approximately 100 people. Construction will begin immediately and should be completed in 22 months.