REGINA — Federated Co-operatives Limited has announced plans to develop a new processing complex in north Regina, totalling a $4.5 billion investment in the area.
The new Integrated Agricultural Complex will be located north of the current Co-op Refinery Complex in Regina, and will include a renewable diesel facility and a new canola crushing plant operating in partnership with AGT Foods.
"This is a tremendous opportunity for Saskatchewan and for FCL and AGT Foods that will bolster the sustainability and economic goals of these companies and the province," said Premier Scott Moe.
A construction timeline for the new development was not outlined, but the announcement estimated that the project is expected to create more than 2,500 construction jobs and 150 permanent operating jobs.
The two new facilities are being built together in one complex in the interest of partnership, said FCL CEO Scott Banda.
"We know the synergies between transportation fuel production and agriculture will play a vital role in Western Canada's transition to the low carbon economy," said Banda.
The FCL diesel facility will have a production capacity of 15,000 barrels per day, or 1 billion liters per year.
The FCL-AGT canola plant will use 1.1 million tonnes of canola seed to produce 450,000 tonnes of oil, which will supply approximately half of the feedstock required for the neighbouring FCL diesel facility.
The new canola plant will also help propel the province towards its goal of increasing crush capacity to be able to process 75 per cent of canola grown in the province by 2030.
"We believe our Co-op Retailing System is well-positioned to integrate and capture the full agricultural value-chain in the production of fuel and value-added products,” said Banda. “We are excited about our partnership with AGT and ultimately what this announcement means for value-added agriculture in our province."
