WINNIPEG, MANITOBA, CANADA — G3 Global Holdings, a limited partnership between Bunge Canada and SALIC Canada, announced on June 2 that it has formed a joint venture with Western Stevedoring Company Limited to examine the feasibility of building an export grain terminal at Lynnterm West Gate at Port Metro Vancouver, Canada.
G3 Global Grain Group was formed earlier this year by Bunge Canada and SALIC Canada to purchase a controlling interest in CWB, formerly the Canadian Wheat Board.
"The G3 vision is to create a highly efficient coast-to-coast Canadian grain enterprise that provides stronger market access solutions for growers and delivers value to our stakeholders," said Karl Gerrand, chief executive officer, G3. "The planned combination of CWB and Bunge's Canadian Grain assets will provide a highly competitive eastern footprint. We now are looking west to determine whether this is the right time and location to take the next step."
A number of matters need to be resolved and permitting considered before a decision to move forward with the project is made.
"Together with Western Stevedoring, we are pursuing related discussions as we move through feasibility and permitting processes,” Gerrand said. “We believe an open relationship with First Nations and the community is critical to the long-term success of the project."
Western Stevedoring is a diversified stevedoring, terminal and logistics company with operations throughout British Columbia since 1948. Western is operator of Lynnterm East Gate and West Gate, located in North Vancouver, which specializes in handling forest products, steel and project cargoes. Western Stevedoring is a wholly owned subsidiary of Carrix Inc., headquartered in Seattle, Washington, U.S. Carrix is the parent company of SSA Marine and is the world's largest privately held marine and rail terminal operator.
Bunge Canada is a vertically integrated food and feed ingredient company, supplying raw and processed agricultural commodities and specialized food ingredients to a wide range of customers in the animal feed, food processor, foodservice and bakery industries. SALIC Canada Limited is a wholly owned subsidiary of Saudi Agricultural and Livestock Investment Company (SALIC), a joint stock company based in Riyadh, Saudi Arabia. SALIC is building a global agribusiness by investing in greenfield and existing ventures.