American agribusiness Cargill is preparing to launch a $350 million project to construct a new canola processing plant in Regina, SK to help meet rising demand for canola products around the world, the company announced Thursday. The firm said it also intends to update and modernize two other canola plants in the province.
“We are confident that the continued growth and competitiveness of the canola processing industry and look forward to helping farmers access increasing market demand,” Jeff Vassert, president of Cargill Canada, said in a release. “Through these projects, we’re committed to providing a better, more efficient customer experience across our network, making it easier to do business with Cargill.”
Once operational, Cargill’s new plant in Regina will have a capacity of 1 million mt/yr. 50 jobs will be created with the opening of the site.
“Saskatchewan is a leader in agriculture production and through investments such as this we are growing our capacity to process these products at home,” said Premier Scott Moe in a statement. “We welcome this significant investment and look forward to working with Cargill to add value to the canola our producers grow, create local jobs, and support Saskatchewan’s economic growth.”
Earlier this month, Powder & Bulk Solids reported that Cargill is launching a $25 million expansion project at its soybean crush plant near Fayetteville, NC. The soybean oil processing site was established in 1970. During the project, Cargill will invest $5 million in real estate improvements and $20 million in “new personal property,” according to Fayetteville Cumberland Economic Development Corporation (FCEDC).