According to Reuters, the new terminal is now set to open in 2019, a year ahead of its initial 2020 planned opening. It will be the first new grain terminal constructed at the Port of Vancouver since the 1960s.
When the project was first announced in December 2016, Karl Gerrand, chief executive officer of G3, said the company planned “to transform the movement of grain through the west coast, providing Canadian farmers with competitive pricing and reliable delivery opportunities.”
G3 said the new Vancouver terminal will feature a rail loop track that will be capable of holding three 134-car trains. Additionally, the terminal will feature more than 180,000 tonnes of storage and will be able to handle cereal grains, oilseeds, pulses and special crops, much of which will be supplied via a throughput agreement with G3 Canada Ltd. G3 said the storage space will allow trains to travel to Vancouver, unload while in continuous motion, and travel back to G3 Canada’s primary elevators, including four recently constructed primary elevators, without detaching from their locomotives, critical to increasing supply chain efficiency.
On Jan. 26, Gerrand told Reuters that 90% of the capital to build the Vancouver terminal has been spent or committed through supply and service contracts.
“We’re all in on this terminal,” he said.
In addition to G3, other companies with grain terminals on the north shore of the Port of Vancouver include Richardson International and Cargill.
G3 is a partnership of Saudi Arabian agriculture company SALIC and White Plains, New York, U.S.-based grain handler Bunge Ltd.