WINNIPEG, MANITOBA, CANADA — CWB announced on Oct. 3 the construction of its fourth state-of-the-art grain elevator located near St. Adolphe, Manitoba, Canada. Situated a half mile south of Glenlea off Highway 75, CWB's newest elevator will feature 34,000 tonnes of storage and is scheduled to open in early 2016.
"The Red River Valley includes some of the most fertile, high-producing lands on the Prairies," said CWB President and Chief Executive Officer Ian White. "CWB is looking forward to putting down roots in the community with another modern, efficient and easily accessible elevator. We are excited to bring our world-class customer service and international brand to the area, while at the same time providing more choice to farmers."
The geotechnical survey for the elevator is complete and construction is scheduled to begin in mid-October. The facility will feature a 134-car loop track, loading rate of up to 1,600 tonnes per hour and cleaning facilities. The elevator will have access to CN and BNSF Railway, providing CWB with rail access to its Thunder Bay terminal as well as to western ports and U.S. and Mexican destinations.
"CWB's rapidly growing network of grain-handling facilities continues to attract considerable interest by farmers, potential investors and the public," said White. "As we continue to build a strong and integrated position in the grain handling supply chain, we create a stronger value proposition for farmers that choose CWB as their marketing partner - a partnership that includes an opportunity for an ongoing farmer ownership stake in CWB through our Farmer Equity Plan."
CWB launched the Farmer Equity Plan in 2013, which provides that farmers who deliver grain against CWB contracts will receive an equity interest in the company after privatization. It is the only opportunity for farmers to gain an ownership stake in a Canadian-focused grain company.