SASKATOON (Staff) – If all goes according to plan, four new inland terminal companies will begin buying Saskatchewan farmers’ grain sometime in 1996.
The facilities should be in business in Unity, Gull Lake, Moosomin and Watrous, bringing the number of farmer-owned terminals in the province to six.
- North West Terminal Ltd. expects to be buying grain in Unity in April 1996. The company closed its share offering on Feb. 28 after raising $1.74 million from more than 400 investors. Construction is slated to get under way in early April on a 32,000-tonne facility, which includes 19,300 tonnes of farmer-owned condominium storage space. The terminal will be able to clean to export standards, will have two receiving and shipping legs and be able to handle 50-car rail spots. The company has an operating agreement with United Grain Growers Ltd.
- South West Terminal Ltd. of Gull Lake recently extended its share offering to April 15 with a minimum target of $1.2 million. Company officials would like to raise around $1.5 million in order to keep bank financing at a minimum. Plans call for a 14,000-tonne main house with 38,000 tonnes of condo storage. The company hopes to break ground this fall and be ready to open by the spring or summer of 1996, in partnership with Cargill Ltd.
- Mainline Terminal Ltd.’s new deadline for share purchases is March 31. The Moosomin-based company has raised about $1 million in share equity and another $1.2 million in commitments to buy condo storage. The company is planning to open in the summer of 1996 with about 11,500 tonnes of common storage and another 18,000 tonnes of condo space. Its operating partner is Pioneer Grain Co. Ltd.
- Mid-Sask Terminal Ltd. of Watrous began selling shares in mid- January and has a closing date of April 15. The minimum to be raised is $1.5 million, with plans calling for about 14,000-tonne main house and another 8,500 tonnes of condo storage. The company hopes to be open for business late next summer in time to handle the 1996 crop, and recently reached an operating agreement with Pioneer Grain.
Read Also
Saskatchewan amends farm land ownership regulations
The Canada Pension Plan Investment Board can no longer own Saskatchewan farmland.
