G3 Canada Ltd. is building a new grain terminal in Hamilton, Ont.
Company president Karl Gerrand said the new facility, to be completed in 2017, will be used to collect grains and oilseeds from southern Ontario.
“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,” Gerrand said in an Oct. 13 news 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.”
G3 Canada is a new Canadian grain handling company that acquired a 51 percent interest in the former Canadian Wheat Board earlier this year. The acquisition completed the process to end CWB’s single-desk marketing authority in Western Canada and sell its assets.
The proposed G3 facility in Hamilton will have storage capacity of 50,000 tonnes. Grain and oilseeds collected at the terminal will be transported to G3’s export facilities on the St. Lawrence River and then shipped to export markets around the world.
“Combined with G3’s existing facilities in Trois-Rivières and Quebec City and our strong marketing connections, we believe G3 will present a very competitive new option for Ontario farmers.”
Gerrand declined in a recent email to comment on whether G3 Canada is interested in acquiring additional Canadian grain handling assets that are owned by competing grain company Viterra.
Last month, Viterra’s parent company, Glencore Plc., announced it would consider selling a stake in its global agricultural portfolio in an effort to reduce debt.
“G3 has a vision to grow its Canadian grain handling presence and this continues to be our plan going forward,” Gerrand said in the email. “As such, we are certainly open to growth opportunities that would complement our green field build-out plans. That being said, I prefer not to comment on these types of market rumours.”