New Grain Terminal in South Australia to Operate by 2018 Winter Harvest
A joint venture between Inheritance Capital Asset Management (ICAM), Duxton Asset Management Solutions, and Sea Transport Solutions is developing a new grain port facility that will operate under the name, T-Ports.
The facility, which will be located at a shallow harbor in the Upper Eyre Peninsula at Lucky Bay, will provide grain storage of 430,000 tons and export options for the bulk loading and handling facilities run in the state by Glencore’s Viterra, and is on schedule to be operational in time for Australia’s 2018 winter harvest.
The $115 million project is financially backed by a farmer and private equity partnership including $96 million in private investor equity and debt - a first for an Australian port, and is highly supported by growers who are looking for greater efficiency and diversity for South Australia’s grain supply chain.
Initially the facility will focus on the storage and shipping of wheat and barley, however canola will be considered for handling in upcoming seasons.