Grain elevators will be renovated, expanded
Expanding and renovating Prince Edward Island’s three grain elevators will help the province’s agriculture industry grow and lead to increased prosperity for all Islanders.
The PEI Grain Elevators Corporation (GEC) has received a $9.2 million repayable loan from the provincial government through Finance PEI to increase the elevators’ capacity and efficiency, decrease off-Island storage costs, and better serve customers. Agriculture and Fisheries Minister Robert Henderson and Economic Development and Tourism Minister Chris Palmer announced the project today (August 29) at the Kensington grain elevator facility.
“We are very excited to announce the new financing for the grain elevators, which is a tremendous example of the strength and growing potential of our grain industry on Prince Edward Island,” Minister Henderson said. “It demonstrates our dedication to our farmers, our people, our products, and our province.”
Besides Kensington, the province's other two grain elevators are located in Elmsdale and Roseneath. Grain elevators stockpile or store grain for farmers, which allows them the opportunity to sell their products at a later date.
“This project helps demonstrate what makes Prince Edward Island mighty,” Minister Palmer said. “Because we are a small place, government and our agriculture industry – like Islanders themselves – are good at working together to make big things happen that will benefit the entire province.”
The new financing will continue to support the province’s growing agriculture industry and further invest in the future of Islanders.
“The Grain Elevators Board is very excited to accept this funding from the government and use it to expand its service to the farmers of PEI,” said Alvin Keenan, chair of the GEC. “This expansion will enable the GEC to access and service markets more efficiently and help the agriculture grain and oilseed industry grow sustainably.”