In anticipation of upcoming sugar liberalization in European markets, port operator Euroports is investing in expansion projects at sugar terminals in Antwerp and LeHavre.
Global port operator Euroports is aiming to take advantage of the upcoming liberalization of the European sugar market by investing in existing sugar terminals in the ports of Antwerp and Le Havre.
The terminal operator is currently investing almost 30 million euros (U.S. $33.6 million) in its sugar terminal in Antwerp as well as considering further investments to meet demands for extra capacity once the liberalization is complete.
Sucre Oceane, a joint venture of Euroports and fellow port operator SHGT, is investing EUR 12.5 million into truck pits, conveyor belts and elevator equipment at the sugar terminal in Le Havre. These investments are expected to increase the number of export containers to 7,000 per year and increase total storage capacity from 45,000 to 60,000 tons.
Implementation of these investments is slated for completion by July 2017, ahead of the start of the sugar liberalization campaign in early September, said Euroports.
“The investments confirm Euroports’ long-term commitment to the sugar industry in Europe. We are confident Euroports will be able to meet the increasing expectations of its customers after the sugar market liberalization later this year,” said Group CEO Euroports Charles Menkhorst.
Sucre Oceane specializes in bulk sugar logistics and handles and stores sugar for Tereos, Cristal Union and the Saint-Louis Sucre cooperative groups, said Euroports. Euroports handles 50 million tons of processed goods in general cargo and dry bulk annually at 26 deep sea terminals in Europe and Asia.
Euroports pours investments into sugar terminals
