Renova to launch Timbues port grain terminal


Argentine biodiesel producer Renova has received the green light to start importing grains and oils at the grain terminal of the river port of Timbues in the province of Santa Fe.

Renova, a joint venture of local companies Vicentin, Oleaginosa Moreno and Molinos Rio de La Plata, will use the imports to supply raw materials to its plant in San Lorenzo, the company said in a statement.

The port terminal has a capacity to handle 310,000 tonnes of soy, 170,000 tonnes of byproducts and 45,000 tonnes of oils annually and is able to service liquid and solid bulk of big ships as well.

The construction of the Timbues port grain terminal required USD 433 million (EUR 328.4m) and began in the fourth quarter of 2010. A total USD 239 million of the funding was granted by the Andean Development Corporation (CAF).