CHS expands grain capacity at Myrtle Grove export terminal
CHS Inc. (NASDAQ: CHSCP) announced a $73 million renovation and expansion of its Myrtle Grove, La. grain export terminal to enhance storage and handling capabilities. The project aims to increase grain throughput by 30% annually, benefiting farmer-owners by improving market access. It will involve the addition of six shipping bins for 580,000 bushels of storage, bringing total storage capacity to 850,000 bushels. Construction starts in August 2021, with completion expected by summer 2023.
- Investment of $73 million in terminal expansion and renovation.
- Increase in grain handling capacity by 30% annually.
- Addition of six shipping bins enhancing storage by 580,000 bushels.
- Improved efficiency and speed in grain export to global markets.
- None.
ST. PAUL, Minn., May 12, 2021 /PRNewswire/ -- CHS Inc. (NASDAQ: CHSCP), the nation's leading agribusiness cooperative, today announced plans for a significant renovation and expansion project at its Myrtle Grove, La., grain export terminal. The
"CHS is always looking for ways to expand market access for farmers' crops," says Chris Pothen, vice president, CHS Global Grain & Processing. "Improvements at Myrtle Grove will allow us to move more grain to world markets with greater speed and efficiency."
The CHS Myrtle Grove terminal handles wheat, soybeans, corn, rice, DDGS (distillers dried grains with solubles) and specialty grains for export to customers in Asia Pacific and Latin American countries. Located 25 miles south of New Orleans, it is the first terminal on the Mississippi River.
"Construction is expected to begin in August, during low river conditions," says Kevin Hall, vice president, supply chain and continuous improvement for CHS. "Given the terminal's unique location, significant environmental, engineering and construction elements were built into every part of our plan."
The terminal expansion project will add six shipping bins providing 580,000 bushels of storage, bringing total Myrtle Grove shipping bin storage capacity to 850,000 bushels. Other upgrades include a new bulk weighing and grading system, a new dock and barge unloading system and independent conveyance for vessel loading that will allow two commodities to be loaded at the same time.
"With this new capacity and increased capabilities at Myrtle Grove, CHS will be well positioned to meet global demand from Asia Pacific, Europe, Middle East, Africa and Latin America customers and execute with precision from a world-class asset strategically positioned on the center Gulf shipping channel," adds Pothen.
Completion is expected by summer 2023.
CHS Inc. (www.chsinc.com) is a leading global agribusiness owned by farmers, ranchers and cooperatives across the United States. Diversified in energy, agronomy, grains and foods, CHS is committed to creating connections to empower agriculture, helping its farmer-owners, customers and other stakeholders grow their businesses through its domestic and global operations. CHS supplies energy, crop nutrients, seed, crop protection products, grain marketing services, production and agricultural services, animal nutrition products, foods and food ingredients, and risk management services. The company operates petroleum refineries and pipelines and manufactures, markets and distributes Cenex® brand refined fuels, lubricants, propane and renewable energy products.
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SOURCE CHS Inc.
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