Australian grain handler Emerald Grain plans to set up new facilities in Australia, in order to increase its storage capacity over the next three years.
As part of the expansion plan, the new facilities will be established in the country's east coast and South Australia state. The expansion is expected to double its storage capacity to to 3 million tons.
Emerald Grain spokeswoman Danielle Buller was quoted by the Reuters as saying that the locations of the new storage facilities will be disclosed over the coming months.
The increased capacity will enable the company to better compete with GrainCorp and Glencore in buying grain directly from farmers and then selling it to international customers.
Currently, Emerald Grain operates 14 storage sites across the country, while GrainCorp owns 280 grain receiving sites on the east coast, capable of accepting more than 21 million tons of grain annually. Glencore has 117 storage sites with a capacity of more than 10 million tons.
Recently, Australia's grain industry has attracted interest from foreign firms which are seeking to take advantage of the benefits of the country's rich agricultural land and proximity to Asia.
