Business Services Industry
Molinos Rio de la Plata's US$80mil investment at risk due to political disputes.
South American Business Information, February, 2004
Argentina, Feb 3, 2004 (La Nacion/SABI via COMTEX)
Molinos Rio de la Plata, the Argentinean food company, has warned that an internal political dispute in the town of San Lorenzo, in the province of Santa Fe, may jeopardize plans to invest US$80mil in the area. The company has decided to turn public its difficulties in obtaining the local government's authorization to build a processing plant and a port in San Lorenzo in a move that would turn the area into the world's largest soybean processing complex. The new plant will increase Argentina's total soybean processing capacity by 15%. It is expected to generate annual sales of between US$60mil and US$70mil. The company ended 2003 with a turnover of US$800mil, an increase of 30% over 2002.
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