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September 19, 2020
BUSINESS

China’s Cofco buys cereal terminal in Constanta port

Nidera, the Dutch trader of unprocessed agricultural products, owned by China’s Cofco, has bought a terminal for cereals in Constanta Port, with a storage capacity of 250,000 tons and the potential to simultaneously load two Panamax ships, the Dutch company announced yesterday. A Panamax ship has a cargo capacity of 55-80,000 tons.

According to ‘Bursa’ daily, Nidera has decided to buy the Constanta port terminal in order to optimize its regional operations, as a result of the growth of its share on the cereal distribution market, the company’s communiqué shows. In recent years Nidera used the terminal in order to export various unprocessed agricultural products.

With an annual turnover of over USD 17 bln, Nidera has operations in 21 countries and distributes unprocessed agricultural products in over 60 states. Cofco, China’s biggest cereals trader, owns 51 per cent of the company.

Nidera owns two cereal silos in Romania and its investment plans include the construction of another two storage units.

According to Finance Ministry data, last year the company registered in Romania a turnover of RON 686.69 M (EUR 153.6 M) and losses of approximately RON 3.2 M.

 

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