MOSCOW Dec 12 U.S. agribusiness giant Cargill
said it bought a stake in a grain terminal in Russia's
port of Novorossiisk to bolster its access to export facilities
in the Black Sea.
Cargill, one of four so-called "ABCD" companies that
dominate the flow of agricultural goods around the world, has
purchased 25 percent plus one share of indirect interest in the
grain terminal Kombinat Stroykomplekt (KSK) from privately held
Russian firm Deloports Limited.
"It is our first investment in a Russian port on the Black
Sea and will strengthen our offering to the market, providing a
channel to connect our Russian grain operations to the rest of
the world," said Andreas Rickmers, head of Cargill's grain and
oilseeds operations in Europe, in a statement on Thursday.
Cargill and Deloports, which still holds a 75 percent stake
in KSK, declined to disclose the value of the deal. KSK
refinanced a $52 million loan from Russian state bank VTB
on Wednesday, the day before.
Russia, one of the world's major wheat exporters to
customers in North Africa and the Middle East, plans to export
about 20 million tonnes of all grains in the July 2013/June 2014
The KSK terminal has the capacity to handle 3.5 million
tonnes of grain a year. Cargill plans to use a portion of that
capacity, while the remaining volume will be available to the
The port will add to Cargill's global network of grain and
port facilities, including a joint venture in the Romanian port
of Constantza on the Black Sea, the trader added.
The other ABCD companies are Archer Daniels Midland Co
, Bunge Ltd and Louis Dreyfus.