Cofco International to Launch First Phase of New Terminal at Port of Santos

Cofco International is set to inaugurate the first phase of its new terminal at the Port of Santos, STS11, later this month. The company aims to boost its annual export volume from the current 4.5 million tonnes to 14.5 million tonnes by 2026. To achieve this, the Chinese agribusiness giant is investing USD 285 million in STS11, equivalent to approximately BRL 1.6 billion.

The company has secured a 25-year lease for a 98,000-square-meter area on the Right Bank of the Port of Santos, with the concession extendable up to 70 years.

In a recent interview with A Tribuna, Cofco International’s Operations Director, Sérgio Ferreira, highlighted the Port of Santos as the company’s flagship operation in Brazil. “Currently, the company handles 4 million to 4.5 million tonnes of exports annually at Terminal T-12A. By 2026, that figure is expected to surge to 14.5 million tonnes, covering all commodities in which Cofco has a stake in Brazil, including soybeans, corn, soybean meal, and sugar.”

Cofco won the STS11 lease in a 2022 auction and, by the second half of that year, had already begun demolishing structures left by previous tenants, including Bracel, Rodrimar, Eldorado, and Cereal Sul, the latter formerly owned by the Chinese group.

Currently, 90% of Cofco’s exports are bound for China, and the expectation is that the Asian nation will remain its primary buyer.

Source: A Tribuna

Sharing is caring!