(Photo: Sergio Gancberg, regional manager of Glencore Agriculture Ltd)

Buenos Aires, February 19th. The Glencore’s full-controlled subsidiary Oleaginosas Moreno Hnos (OMHSA) SA announced the agreement with the port authorities of Bahía Blanca to renew its Puerto Galvan operation through 2040. According to the press release, the company agreed to invest for US$25 million. These investments will be addressed to the revamping of the facilities, modernizing the machines and expanding the storage and loading capabilities.

The agreement was signed by the Sergio Gancberg, regional manager from Glencore Agriculture Ltd and CEO of OMHSA, by one side and Miguel Donadio, chairman of the Management Consortium to the Bahia Blanca Port.

In this port, OMHSA has 129,000 metric tons of grain storage capacity plus 40,000 m3 edible oils storage. Its vessels load capacity varies between 1,600 and 2,000 metric tons per hour of grains and 750 tons per hour of vegetable oils. The company accorded to install three new silos, adding  18,000 metric tons of storage.

“This investment is part of others that Glencore is doing in Argentina. One of them is the expanding of the production capacity of Renova, the joint venture with Vicentin, and the largest soybean crushing plant in the world”, the press release explains.

From January to November 2018, Puerto Galvan embarked 622,000 metric tons, mostly of wheat and barley. This volume represents around 10% of the total Bahía Blanca Port.