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Exclusive - COFCO delays $20 million port hub in southern Brazil

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Exclusive - COFCO delays $20 million port hub in southern Brazil

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SAO PAULO (Reuters) – A division of Chinese commodity trader COFCO has delayed completion of a $20 million (£15.1 million) port hub in southern Brazil, three sources told Reuters, as it reorganizes operations following the combination of its Nidera BV and Noble Agri businesses. The transshipment hub on the bank of the Sinos river, which is still under construction, is expected to move 850,000 tonnes of grains per year – from trucks to barges bound for Rio Grande for export, and receive imported wheat shipped through that port. COFCO, which did not reply to requests for comment, completed its takeover of Nidera this year.

(Reporting by Ana Mano; Additional reporting by Jake Spring in Brasilia; Editing by Brad Haynes and Susan Thomas)
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