ITOCHU Corporation and ITOCHU International Inc. have agreed with Bunge North America, a major agribusiness firm, and STX Pan Ocean (America), Inc., a U.S. corporation of the largest South Korean bulk carrier, to spend more than $200 million to jointly build one of the largest export grain terminals on the West Coast.
This terminal features a rail loop track unloading system to dramatically improve the unloading capacity, which will be the highest in the region, and state-of-the-art equipment to maximize the shipping capacity.
The terminal is scheduled to begin operating in Autumn 2011.
ITOCHU Corporation follows an SIS (Strategic Integrated System) strategy for the construction of the global value chain, and positions this business as part of creating the food resources supply system in the upstream field. This business is intended to provide a stable supply of grain and oil seeds for human as well as animal consumption. In addition, it will ensure the safety and security of food for consumers in the Japanese, Chinese and the other Asian markets and make a significant contribution to the construction of the global value chain.