Distribution company Federated Co-operative Limited (FCL) has signed a memorandum of understanding (MoU) with AGT Food and Ingredients (AGT Foods) to form a joint venture (JV) to construct the $360m canola crush facility in Canada.
The canola crush facility will form part of FCL’s $2bn Integrated Agriculture Complex (IAC), which is planned to be built in north of the Co-op Refinery Complex in Regina, Canada.
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The IAC will also comprise a 15,000-barrel-per-day renewable diesel plant.
AGT Foods president and CEO Murad Al-Katib said: “We believe that AGT’s capabilities in grain logistics and plant protein ingredients combined with FCL’s strong history in energy and farm inputs creates a powerful partnership that will benefit the communities in which we operate.”
The canola crush facility will be equipped to supply around 50% of the feedstock required for a renewable diesel plant, which is planned to be commissioned by 2027.
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The renewable diesel plant will receive the remaining feedstock from other canola crush facilities.
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By GlobalDataSaskatchewan Premier Scott Moe said: “The new Integrated Agriculture Complex will provide additional momentum to Saskatchewan’s growing economy.
“With this project, more than $12 billion of capital investment has been announced for the province in the last year, including about $2 billion to build four new canola crush plants.
“FCL’s new renewable diesel facility will reinforce Saskatchewan’s reputation as one of the most sustainable producers of energy in the world. This project is a win for the economy, a win for workers, families and communities, and a win for the environment.”
The IAC is expected to create 2,750 jobs during the construction phase and create up to 300 permanent jobs upon completion.
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The canola crush facility will form part of the Integrated Agriculture Complex, which will also include a renewable diesel plant. Credit: Federated Co-operatives Limited.
