KENSINGTON- Prince Edward Island grain and oilseed industries are gaining additional storage capacity.
The P.E.I. Grain Elevators Corporation (GEC) and the provincial government jointly announced in Kensington on Wednesday that the corporation is receiving a $9.2 million repayable loan through Finance P.E.I., to allow for an expansion and renovation project for its elevators in Roseneath, Kensington and Elmsdale.
With the loan, the corporation hopes to increase the capacity and efficiency of its elevators, decrease off-Island storage costs and better serve its customers.
“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 P.E.I.,” said the corporation’s chairman, Alvin Keenan. “This expansion will enable the GEC to access and service markets more efficiently and help the agriculture grain and oilseed industry grow sustainably.”
Agriculture Minister Robert Henderson referred to the finance as a “tremendous example of the strength and growing potential of our grain industry on Prince Edward Island”.
