Grain accumulation business CHS Broadbent will be the latest player in Australia's grain port sector after announcing it will construct a port facility at Geelong.
The new development will be built at the north end of Geelong's port precinct, at the current Midway facilities near Incitec Pivot's port infrastructure and will be capable of exporting 1.5 million tonnes of grain annually.
The CHS Broadbent port will have capacity of 80,000 tonnes and will service grower customers from Victoria and southern NSW.
The new port will go head to head with existing facilities in Geelong run by GrainCorp and Riordan Grain Services.
CHS Broadbent's managing director Steve Broadbent said construction on the five hectare site was expected to commence next year.
The facility will boast fast road and rail unloading capabilities and advanced grain handling technology with a view to ensuring quick turnaround times for those delivering grain into the site and the efficient loading of bulk export vessels.
Mr Broadbent said he was excited about delving into the port business.
"Quality service to farmers is at the core of everything we do at CHS Broadbent and the addition of an export terminal to our supply chain service will see further value delivered to growers, right back to the farm gate," he said.
He said the company was projecting it would move around 1 million tonnes out of the facility in an average year.
The new development is a result of CHS Broadbent and Midway Limited entering a land sale agreement for five hectares of the Midway Limited site at North Shore, Geelong.
CHS, CHS Broadbent's parent company, is a diversified global agribusiness cooperative owned by farmers and local cooperatives across the United States.
CHS Broadbent operates four upcountry grain receival sites, including two in Victoria's high rainfall zone cropping district, one at Lake Bolac and one at Lakaput, between Beaufort and Skipton.