G3 Holding, indirectly owned by Saudi Arabia's Public Investment Fund (PIF), announced on Thursday the opening of the G3 Terminal Vancouver (G3TV), a modern grain export terminal on the west coast of Canada.
G3 Holding, owns and operates elevators in the key Canadian grain production areas, is 75 percent owned by SALIC, which, in turn, is owned by the PIF.
G3 said in a statement that the new grain terminal has been designed with a focus on high velocity grain receiving and loading and can receive up to three 150-car trains on its loop track.
Trains quickly unload while in motion and travel back to G3's Prairie elevators without detaching from their locomotives, thereby increasing supply chain efficiency.
G3TV's dock can accommodate vessels up to Capesize, and its three large ship loaders move grain on board at up to 6,500 tonnes per hour, the statement said. The dock also has a storage capacity of 180,000 metric tonnes.
SALIC's CEO Suleiman bin Abdul Rahman Al-Rumaih said the G3 Vancouver Station project would contribute to the Kingdom's food security and also enable knowledge transfer in the field of grain trade and handling.
SALIC has made grain handling and trade investments in Ukraine and Australia.
G3 was set up as a joint venture with Bunge International in 2015 to invest in the handling and export of agricultural grains.
(Writing by Madhura Deulgaonkar; Editing by Anoop Menon)
#SaudiArabia #SALIC #Trade #PublicInvestmentFund(PIF) #Canada #G3TerminalVancouver(G3TV)
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