Midway and CHS Broadbent announce grain terminal development

November 28, 2023

One of Australia’s leading plantation and carbon management and woodfibre export companies, Midway Limited, recently announced it has entered a binding Memorandum of Understanding (MOU) with CHS Broadbent. Under the agreement, Midway will sell a section of its North Shore site in Geelong, to CHS Broadbent who will build and operate an 80,000 metric tonne grain storage and export terminal. 

Under the terms of the MOU, CHS Broadbent will initially lease and then acquire freehold title to five hectares (12 acres) of the Midway site at North Shore to receive, store and export grain from the second half of 2024. 

As part of the MOU arrangement, Midway and CHS Broadbent will equally fund the upgrade of GeelongPort’s Corio Quay North 4 ship-loader to grain standard.  The upgrade works will be managed by GeelongPort.

It is expected that CHS Broadbent’s grain export volumes will contribute to Midway’s port volumes.

“The sale and grain project combine the global infrastructure and customer base with the supply chain strength of the local CHS Broadbent team,” said Midway Chairman Gordon Davis, a former CEO of grain company AWB. 

“CHS Broadbent gains port access for its first dedicated grain export terminal in Australia,” McKenna said. 

“The Geelong location extends our supply chains in the Asia-Pacific region and strengthens our competitive position on behalf of our farmer-owners.” 

View Midway’s ASX announcement here.