COFCO International starts construction on Santos port terminal expansion
COFCO International has marked the start of construction on the STS11 agriculture terminal at the Port of Santos in Brazil at a groundbreaking ceremony. The new terminal will expand the company’s own port capacity in Brazil from 3 to 14 million tonnes with operations scheduled to commence in phases between 2025 and 2026.
With a strategic location on the State of São Paulo coastland, the Port of Santos is the largest in Latin America connecting over 600 ports in 125 countries. It is also the most important foreign trade route in Brazil with almost 27% of the country’s trade balance (USD 112.3 billion) passing through the port according to Santos Port Authority.
The groundbreaking ceremony held on 8 August, attended by representatives from the Santos Municipal Government, Santos Port Authority and other Chinese companies in Brazil, reinforces the company’s commitment to the Port of Santos and sustainable development of Brazilian agriculture. It will also bring more jobs to Santos, provide Brazilian farmers more choices and support local communities across the country for the long-term.