World Grain - March 2011 - 13

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Joint venture to build new canola crush plant in Canada
SASKATCHEWAN, CANADA — Clean Power Concepts Inc. announced on Jan. 28 that its subsidiary, General Bio Energy Inc., has signed a Memorandum of Understanding (MOU) with the Chongqing Grain Group Co., Ltd. (CGG) of China. The MOU creates a new Joint Venture (JV) that has as the stated objective to explore the feasibility of jointly building and managing a 600,000-tonne food canola crush plant located in Western Canada. CGG agrees to commit to purchase all oil output/off-take of the JV, while CPOW will purchase all meal output/off-take. CPOW will secure required input seed from western Canadian producers by contracting with producers to provide the input required for the JV. CPOW will serve as the manager, with responsibility for the design and construction of the crush plant. The JV said the plant will be constructed in compliance with Canadian legal, environmental and safety rules, regulations and statutory requirements. The ﬁnal structure of the JV has not yet been determined, but CGG will be the majority owner. “Our partners in China have immediate demand for the planned capacity of the new canola plant,” Michael Shenher, chief executive ofﬁcer of Clean Power, said. “The site, while not yet selected, will be situated close to railway transportation transit points available in Western Canada to ensure logistical efﬁciency. We are excited about the demand existing in China for canola oil and worldwide for off-take canola meal. We look forward to a long, successful future with our partners in China as we work to fulﬁll their demand.” The Chongqing Grain Group Co., Ltd. is located in Chong Qing, municipality in China. The Group owns 51 subsidiaries and has 21,507 employees. Total assets of the group have reached approximately $920 million.

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CWB purchases lake vessels for grain
WINNIPEG, MANITOBA, CANADA — The Canadian Wheat Board (CWB) announced on Feb. 8 the purchase of two new lake vessels that will be ready for service in 2013. The ships will move their wheat on the Great Lakes, under an agreement reached between the CWB and shipping companies Algoma Central Corporation and Upper Lakes Group Inc. “As ship owners, we are moving forward to strengthen farmers’ position in our grain supply chain,” said CWB board chair Allen Oberg, a farmer from Forestburg, Alberta, Canada. “This historic step puts us at the helm. Through the CWB, farmers will share in the control and the proﬁts of Great Lakes grain shipping. This is a value-added investment with signiﬁcant net beneﬁts for Prairie producers.” Algoma President and Chief Executive Ofﬁcer (CEO) Greg Wight and Upper Lakes President and CEO Pat Loduca welcomed the partnership with western Canadian producers in purchasing the new state-of-the-art Equinox class bulk carriers, to be operated and managed by Seaway Marine Transport, which is a partnership of the two companies. The CWB’s cost for the two ships is C$65 million, equal to approximately C$1 per tonne, paid over the next four crop years.
www.World-Grain.com / World Grain / March 2011

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World Grain - March 2011

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