This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Bunge Creates Joint Venture To Build River Grain Terminal In Illinois

ST. LOUIS, April 11, 2011 /PRNewswire/ -- Bunge North America, the North American operating arm of Bunge Limited (NYSE: BG), announced that it has created a joint venture with SCF Marine Inc., a subsidiary of SEACOR Holdings Inc. (NYSE: CKH), to build a river grain terminal in Fairmont City located in St. Clair County, Illinois.  The joint venture, Bunge-SCF Grain, LLC, will build a state-of-the-art facility on the Mississippi River capable of receiving grains, soybeans, their byproducts and other bulk commodities and efficiently shipping them either domestically or to the export market.

"Meeting the growing global demand for commodities requires not only more infrastructure, but improved infrastructure, and everything from site selection to facility design is being done to make sure we can efficiently serve farmers and customers," said Bailey Ragan, vice president, Bunge Grain, Fertilizer and Biofuels.  "The terminal will have high-speed unloading and loading capabilities and is located in one of the most agriculturally productive areas in the Midwest on a site where we have great rail, truck and barge access."

The facility will have more than a million bushels of permanent storage and will be able to handle high volumes of multiple commodities simultaneously, providing maximum flexibility.  The site is the northernmost river point that provides year-round, ice-free river access for barges as well as allows for deepwater barge loading.

"This facility will help us maximize the efficiency of barge and boat assets," said Tim Power, president of SCF Marine.  "We will be able to receive products via rail and truck and transload them directly onto barges for delivery to domestic locations or to the Port of South Louisiana for export."

Alberici Constructors, Inc. is the design-build general contractor for the project.  Construction is expected to take about a year and will employ about 100 people.  Once operational, the facility will have 12-20 full-time employees.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,798.49 -14.90 -0.08%
S&P 500 2,090.11 +1.24 0.06%
NASDAQ 5,127.5250 +11.3820 0.22%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs