Work on a long-discussed grain terminal at the Port of Longview
will begin this month, making it the first new export terminal
built in the United States in the last two decades.
The terminal will be the product of EGT Development LLC, a
joint venture between St. Louis-based Bunge North America, a
division of Bunge Limited (NYSE: BG), Japan-based Itochu Corp.,
and Korea-based STX Pan Ocean Co.
The new facility, which officials have estimated to cost around
$150 million, will be capable of handling grain, oilseeds and
protein meals. It will have a rail loop track unloading system
capable of holding 110-car unit trains, as well as a shuttle train
system and the capability of unloading barges from the Columbia
River.
Work begins this month with the facility accepting product
for the fall (autumn) 2011 harvest. Once fully operating, it will
be capable of handling more than 8 million metric tonne s of
product annually.
Bunge officials say the facility will provide 50 jobs and about
$2 million in tax revenue to the Longview economy. But others,
particularly existing grain terminal operators, fear the new facility
will siphon work away from existing operators rather than
increasing regional exports.
Bunge officials, however, believe there is a need for additional
capacity in the Pacific Northwest.
“The Pacific Northwest is already the second largest export
corridor in North America but additional capacity will be needed
to meet the growing demand for agricultural products in Asia,”
Carl Hausmann, Bunge North America’s president and CEO, said
in a news release. “All three partners currently ship to the Pacific
Rim and this facility will be well-positioned to create a more
direct and stable supply base so that we can better serve our
operations and customers in Asia.”