A Geelong-based company is selling part of its land at GeelongPort to agribusiness CHS Broadbent in a multi-million dollar deal.
Midway’s entered the agreement with the global giant to sell a section of the North Shore site for more than $15 million and develop an export terminal capable of handling 80,000 metric tonne.
Construction on the project is expected to start in 2024 and once complete fast road and rail unloading capabilities are expected of being able to help export up to 1.5 million metric tonnes a year.
“In an average year we project we will export around 1 million metric tonnes which equates to approximately 13 turns per year,” CHS Broadbent Managing Director Steve Broadbent said.
Grain growers in Victoria and Southern New South Wales will be relied upon to help feed the new terminal, where it will then be loaded on to ships for export.
“The Geelong location extends our supply chains in the Asia-Pacific region and provides farmers with a unique opportunity to connect with our global network,” CHS Broadbent chair Brian Schouvieller said.