Ceres, Scoular alliance crumbles

Ceres, Scoular alliance crumbles

DESPITE past plans to work together, The Scoular Co. recently learned that Ceres Global Ag Corp. independently intends to use its subsidiary, Riverland Ag, to design and develop a grain elevator at the logistics hub Ceres is developing in Northgate, Sask.

The information was first communicated to Scoular at the end of January. Termination of Scoular's relationship to the Northgate project and with Ceres remains under discussion.

Ceres recently concluded the comprehensive strategic review it launched last September when it decided to independently build the Northgate grain elevator. Ceres plans to spend up to an additional $17.4 million of capital during the 2014 construction season for the planning and design of the grain facility and the planning, design and initial construction of the oil and natural gas liquids transloading facilities. Ceres expects to complete the remaining site preparation, track installation and associated port infrastructure for the Northgate project by early this summer.

Once completed, Northgate will have the infrastructure in place to allow manifest and unit trains to cross the border into Canada and to facilitate the transloading of agricultural, petroleum and other bulk commodity products.

Volume:86 Issue:08

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