ADM To Invest A$200 Mln To Strengthen Australian Agricultural Infrastructure

(RTTNews) - Grain processor Archer Daniels Midland Co. (ADM) announced a package of additional commitments related to its proposed acquisition of GrainCorp Limited (GNC.AX), including another A$200 million investment to strengthen Australian agricultural infrastructure, with specific emphasis on rail enhancement projects.

The package includes price caps on grain handling charges at silos and ports, commitment to grain infrastructure access for growers and third parties as well as commitment to open access regime for port services.

A grower and community advisory board with representation from New South Wales, Victoria and Queensland, as well as regular public grower consultation and support for expanded grain stocks information arrangements are also part of the package.

Ian Pinner, president, ADM Grain, said, ''Throughout our effort to secure approvals for our proposed acquisition of GrainCorp, we have worked constructively to create value for grain growers and the Australian economy as well as shareholders of GrainCorp and ADM."