P.E.I. grain elevators get $9.2M loan from province for expansion

The Island's three grain elevators are receiving a $9.2-million repayable loan from the provincial government for expansion and renovations, the province announced Wednesday.

The loan goes to the P.E.I. Grain Elevators Corporation through Finance P.E.I.

According to a news release, the money will increase the elevators' capacity and efficiency, and decrease off-Island storage costs.

The announcement was made at the Kensington grain elevator. The other two are in Elmsdale and Roseneath. Grain elevators store grain for farmers so they can sell it at a later date.

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