13 July, 2010

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Molinos, Vicentin and Oleaginosa Moreno Hermanos will invest $350 million to build a soy-processing plant in Argentina, the companies said in a statement late on Wednesday.

The grain-processing plant will be located just north of Rosario, the main agro-industrial hub in Argentina, which is the world’s largest supplier of soymeal and soyoil.

The plant will have “the capacity to generate its own energy and a port for exports of beans and their derivatives,” Molinos (MOL.BA) said in a statement sent to the Buenos Aires Stock Exchange.

The biodiesel producer Renova, in which the three firms have an equal stake, will build the plant.

Molinos, one of Argentina’s main agricultural and food firms, is controlled by local businessman Gregorio Perez Companc. Oleaginosa Moreno Hermanos is indirectly owned by commodities trader Glencore [GLEN.UL]. (Reporting by Jorge Otaola; writing by Alexandra Ulmer; editing by Jim Marshall).

SOURCE: REUTERS

This article is dated Tuesday, July 13th, 2010 1:56 pm under , ARGENTINE BIODIESEL, biodiesel plants, biodiesel-argentina, biodiesel-plant, Glencore, OLEAGINOSA MORENO, PEREZ COMPAC, plantas de biodiesel, RENOVA BIODIESEL, SOJA ARGENTINA, soy plant, SOY-PROCESSING PLANT, soybean, SOYOIL.
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