On July 31, Agriculture Minister Gerry Ritz announced that the CWB had finalized the commercialization deal with G3 Global Grain Group and has become a fully private and global competitor in the Canadian grain sector. This follows the planned investment deal announced in April 2015.
The commercialization of CWB has been part of the government鈥檚 broader modernization of Canada鈥檚 grain sector to stimulate investment and create jobs and economic growth for farmers and Canadians. It includes an aggressive trade and market access agenda, grain transportation and supply chain improvements and investments in science and research.
On April 15, the Government of Canada announced approval of a deal reached between the CWB and G3 Global Grain Group, which included a G3 investment of $250 million in the CWB, subject to closing adjustments.
Seventy per cent of western Canadian grain exports flow through the west coast.
G3 Global Holdings, an affiliate of G3 Global Grain Group, is also examining the feasibility of developing a new port facility in Vancouver that would greatly increase Cana-da鈥檚 export capacity. This would be the first new port facility for grain in Canada鈥檚 busiest port in nearly 50 years.
鈥淐anada鈥檚 farmers depend on an efficient gateway to get their top quality products to the world,鈥� Ritz said. 鈥淭oday, we see how marketing freedom continues to open the way for investments in the grain industry leading to jobs and growth for farmers and Canadians.鈥�
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