CBH gatecrashes GrainCorp’s biofuels strategy, closes in on BP deal

According to The Australian Financial Review, CBH Group, the country’s largest co-operative, is preparing to derail GrainCorp’s ambitions of becoming a major biofuel player, closing in on a partnership with BP that would involve building its own large-scale oilseed crushing plant in Perth.
The move would also stymie GrainCorp’s push to extend its operations from its traditional base along the east coast into Western Australia. The ASX-listed group has outlined plans to spend several hundred million dollars on a plant in WA and has been in negotiations about securing a site, canola supply and a partnership with BP and others.
BP has been weighing up a $1 billion-plus investment in converting an oil import terminal at Kwinana, south of Perth, into a renewable fuel production hub and will need feedstock from a major oilseed crushing plant. CBH has spare land at its Kwinana grain export terminal and could deliver canola to a crushing plant with its fleet of locomotives.

https://www.afr.com/companies/agriculture/cbh-gatecrashes-graincorp-s-biofuels-strategy-closes-in-on-bp-deal-20240301-p5f90v
​