Glencore acquires interest in Russian grain terminal

by World Grain Staff
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TAMAN PORT, RUSSIA — Glencore International plc, announced on Oct. 2 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 from the EFKO Group an interest in a deep sea grain export terminal at the Port of Taman, Russia.
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 million tonnes per year and will enable Russian grain to be exported throughout the year.
The company noted that 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 Europe, the Middle East and Africa.
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