Sodrugestvo acquires 60% of firm with four river terminals in Paraguay
MOSCOW. Aug 11 (Interfax) - Sodrugestvo Group, one of Russia's leading processors of oilseed crops and exporters of agricultural products, has entered the river logistics market in Paraguay by forming the joint venture Sarcom with the Gimenez family, owners of the largest network of river port terminals in the South American country, the group said.
Sodrugestvo owns 60% of the joint venture "with a possibility to acquire the remaining shares over the next few years."
"Paraguay is a quickly growing soybean market and an important region for Sodrugestvo Group. Sarcom, uniting four strategically positioned river terminals, is one of the most important and respected players in the industry, which is naturally suiting our supply chain," Sodrugestvo CEO Alexander Lutsenko was quoted as saying.
"As we continue to look for new strategic growth opportunities - both geographically and in terms of our product and service offerings - it is fitting that we expand our presence in one of the most dynamic markets in South America," Lutsenko said.
In the next three years, Sodrugestvo, with its partners, will focus on increasing throughput and storage capacity at all four terminals.
Sarcom's goal is to handle more than 2 million tonnes of soybeans annually, of which half will be supplied by Sodrugestvo Paraguay and the other half by Sarcom's current business partners.
