02 October 2012

Glencore acquires an interest in a deep sea grain export terminal in Taman port, Russia

02 October 2012 - Glencore International plc, announces that it has, through a wholly-owned subsidiary, entered into a 50-50 joint venture agreement with Kernel Holding S.A. through which it has acquired an interest in a deep sea grain export terminal in Taman port, Russia from the EFKO Group. 

Strategically located on Russia’s Black Sea coast, the port of Taman is in close proximity to Southern Russia’s main grain producing region. The grain export terminal has a throughput capacity of 3.0mio mt per annum and will enable Russian grain to be exported throughout the year. Not only will this increase the competitiveness of Russian grain on the world market, it will also enable Glencore to further meet the needs of its customers across EMEA. 

Glencore is one of the world’s leading integrated producers and marketers of commodities, headquartered in Baar, Switzerland, and listed on the London and Hong Kong Stock Exchanges. Glencore has worldwide activities in the production, sourcing, processing, refining, transporting, storage, financing and supply of Metals and Minerals, Energy Products and Agricultural Products. 

Source: Glencore