Ceres Plans Canada Export Hub to Boost Grain, Oil Sales to U.S.
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Ceres Global Ag Corp., an agriculture investment firm, is building a C$90 million ($90 million) Canadian export hub at the North Dakota border to expand shipping capacity for grains and crude oil into the U.S.
The 1,500-acre facility in Northgate, Saskatchewan, will be linked to BNSF Railway Co.’s U.S. network, Ceres said today in a statement. The Toronto-based company, which owns 15 grain-storage facilities in Ontario and the U.S. and a Saskatchewan rail line that transports oil, said the port eventually will be able to handle 40 million bushels of grain annually and 70,000 barrels a day of crude.