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Sugar Terminals Limited (SUG.NSX) Storage Handling Agreement

·1-min read
Sugar Terminals Limited (NSX:SUG)
Sugar Terminals Limited (NSX:SUG)

Sugar Terminals Limited (SUG.NSX) Storage & Handling Agreement

Sydney, Australia, Aug 25, 2021 - (ABN Newswire) - Sugar Terminals Limited (NSX:SUG) has today announced that the current raw sugar Storage and Handling Agreements with all STL customers will expire on 30 June 2022. This is because not all of its marketing customers have elected to exercise the final extension of their storage and handling agreements with STL.

STL Chairman Mark Gray said "As a result, STL will take the necessary steps to have in place new Storage and Handling Agreements by 30 June 2022".


About Sugar Terminals Limited:


Sugar Terminals Limited (NSX:SUG) (STL) owns and operates six bulk commodity terminals in Queensland and plays a vital role in Australia's sugar market, handling over 90% of the raw sugar produced in Australia each year.

STL's terminals provide 2.5 million tonnes of storage capacity and handle more than 4.6 million tonnes of commodities each year. In addition to around 4 million tonnes of bulk sugar, STL also handles more than half a million tonnes of other commodities annually, including molasses, wood pellets, gypsum and silica sands.

STL has over $350 million in assets in strategic port locations across Queensland. We have in place 100 year leases with the port authorities at each of our six terminals. These leases include rolling options to extend for a further 100 year period.

Contact:

Peter Bolton
Chief Financial Officer
Ph: (07) 3221 7017

Source:
Sugar Terminals Limited

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