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Grain-handling giant Viterra has announced it plans to build a canola crushing facility in Regina, one the company promises to be the “world’s largest integrated canola crush facility.”
In a news release on Monday, the company says the project is still in the feasibility stage, with a target for the plant to crush 2.5 million metric tonnes of canola each year.
While Viterra did not say how much the project would cost or where it would go, the company was reported by Postmedia this month to be the secret buyer of city land near the Co-op Refinery.
That land spanned more than 630 acres and was sold for $4 million, which was below market value. Council approved the sale, believing the buyer would develop something that would result in huge economic benefit.
Viterra says its canola plant is targeted to be operational in late 2024.
It’s the second canola processing facility announced for the Regina area in less than a week. On Thursday, Cargill revealed plans for a $350-million plant to be built in the region.
Viterra says oilseed crush demand is expected to rise in the future, to be used in food, animal feed and as feedstock for renewable fuel. The latter would help support the federal government’s intended Clean Fuel Standard, Viterra says.
The provincial government applauded the announcement, saying the project will generate economic activity and create jobs while moving the province closer to crushing 75 per cent of its canola at home.
