May 2, 2012
For immediate release
Province invests in grain elevator expansion
Fisheries, Aquaculture and Rural Development
“The Government of Prince Edward Island is pleased to help farmers who are producing more grain and oilseed crops to meet the growing demands of the export market,” said Minister MacKinley. “Existing facilities are not able to handle the increased volume of the crop. This investment will provide additional storage capacity, improved handling systems and will also allow farmers to hold their crop in order to get a better price.”
The Prince Edward Island Grain Elevator Corporation operates grain elevators in Kensington, Elmsdale and Roseneath. The expansion will see four additional storage facilities built, two in Kensington and one in Elmsdale and one in Roseneath.
More than 300 Island farmers deliver their crops to grain elevators every year. The expansion will increase storage capacity by 4,800 metric tonnes for a total capacity of 33,800 metric tonnes.
Grains are stored and sold mainly in domestic markets, while soybeans are exported to Asia, Russia, France and the Netherlands.
The Island Community Fund is investing $500,000 in the $1.84 million project, with the PEI Grain Elevator Corporation contributing the remainder of the costs.
“Farmers and rural communities across the province will benefit from the additional economic activity generated by this Island Community Fund investment,” said the Minister.
The Island Community Fund supports projects that promote the strategic interests of the province, initiatives identified in the Rural Action Plan and community projects across Prince Edward Island.