Graincorp Limited (ASX:GNC) has announced plans to inject $200 million into improving the efficiency of its country grain storage network.
The grain logistics company has called the initiative Project Regeneration and will invest the funds over three years as international demand for grain increases.
Executive Chairman Don Taylor says the initiative will deliver a faster and more efficient rail capability for the benefit of growers and grain buyers.
Mr Taylor has also advised Project Regeneration represents the largest single capital investment in the country network in GrainCorp’s history.
The work will involve reshaping the country network, localised cluster operations, end-to-end export logistics and rail loading improvements.
GrainCorp says it hopes Project Regeneration will see the return of up to 1 million tonnes of grain to rail through reduced train cycle times and streamlined, more reliable operations.
Graincorp reported a net profit of $50 million in the first half of the 2014 financial year.
