Port of Longview to break ground on $150 million grain terminal - Portland Business Journal:

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The terminal will be the product of EGTDevelopmeng LLC, a joint venture between St. Louis-based Bungew North America, a divisionj of Bunge Limited (NYSE: BG), Japan-basedr Itochu Corp., and Korea-based STX Pan Oceaj Co. The new facility, which officials have estimated to costaround $150 million, will be capable of handling grain, oilseeds and protein It will have a rail loop track unloadinf system capable of holding 110-car unit as well as a shuttle train syste and the capability of unloading barges from the Columbis River. Work begins this month with the facilit y accepting product for the fall2011 harvest.
Once fully operating, it will be capablre of handling more than 8 milliojn metric tons ofproduct annually. Bungs officials say the facility will provide 50 jobs andabougt $2 million in tax revenue to the Longvieww economy. But others, particularly existing grain terminal fear the new facility will siphoj work away from existiny operators rather than increasingregional exports. Bunge officials, believe there is a need for additionall capacity in thePacific Northwest.
“The Pacific Northwest is already the second largesrt export corridor in Northg America but additional capacity will be needed to meet the growingv demand for agricultural productsin Asia,” Carl Hausmann, Bungew North America’s president and CEO, said in a news “All three partners currently ship to the Pacific Rim and this facilith will be well-positioned to create a more directr and stable supply base so that we can better serves our operations and customers in