La Coop fédérée has announced plans for a $90 million grain transfer terminal to be built at the Port of Quebec for agriculture commodities destined for European and Asian markets.
The new terminal at Pier 106 in Anse au Foulon will have the capacity to export of 1.3 million metric tons of grain per year, with an estimated value of $450 million. The Port of Quebec, on the St. Lawrence Seaway, also offers access to the Great Lakes and rail transport.
The announcement comes two months after La Coop fédérée reached a deal to buy Cargill’s grain handling and crop input business in Ontario.
The large agri-food co-op says the terminal project will consolidate its activities in the Port of Québec, where it has operated for almost 30 years.
“We know that this new terminal will be a driver of prosperity for Canadian farming families because it will increase storage capacity and open up new export markets,” says Sébastien Léveillé, executive vice president of Agri-business for La Coop fédérée.
The new build includes funding support by the Québec government and the Fonds de solidarité (FTQ), and is subject to public consultation ahead of approval by the Québec Port Authority.
The proposal would see the project take place in four phases, starting this year and wrapping up in 2021.