REGINA (Staff) – Any Leader, Sask., farmers who don’t know what to do with the Crow Benefit buyout cheque will soon find eager investors ready to help them out.
Organizers of a proposed new 750,000-bushel grain terminal there hope to have a share issue in place at about the same time the $1.6 billion buyout cheques are sent out.
“If we can get 10 percent of the Crow that will be paid out in a 40-kilometre radius, we can build this project,” said organizer Gordon Stueck. “It’s very feasible.”
A meeting with about 200 local producers found 80 percent in favor of the Great Sandhills Terminal project, which could cost $6.3 million and require $1.5 million from local farmers, Stueck said.
The group is looking for a major grain company to jump in with 25 to 30 percent of the money and expects to build the facility with 40 percent debt financing.
Stueck said his group hopes CP Rail will put some money toward the facility.
