Terminal could help increase exports
By Diego Flammini, Farms.com
G3, formerly known as the Canadian Wheat Board, announced it will start construction of a new grain terminal at the Port of Hamilton to expand exports of grains and oilseeds.
"G3 is excited to announce this major investment in the Port of Hamilton as part of our vision to create a coast-to-coast Canadian grain enterprise," says Karl Gerrand, CEO, G3 in a release. "Grain exports from Southern Ontario have been increasing for some time now. We look forward to expanding our relationship with farmers in the province, and will work hard to establish G3 as the partner of choice in marketing their grain."
The facility will be located at Pier 26 in the Port of Hamilton and be able to handle 50,000 metric tonnes of product. The crops will be loaded onto ships, transported to facilities along the St. Lawrence River and exported to global markets as needed.
President and CEO of Hamilton Port Authority, Bruce Wood, said the city’s port transported more than two million tonnes of agri-food in 2014.
“Direct access to the Great Lakes St. Lawrence Seaway system means the port is ideally located for agri-food exporters,” he said in a release.
Construction on the facility is underway and is expected to be finished in time for the 2017 harvest.
The deal between G3 and the Canadian Wheat Board became finalized in early August 2015. The transaction was worth an estimated $250 million. G3, the group made up of Bunge Canada and SALIC (Saudi Agricultural and Livestock Investment Company) own about 50.1% of the CWB.
Join the conversation and tell us your thoughts about the new grain terminal being constructed in the Port of Hamilton. What kind of opportunities does it open up for farmers?