Cargill’s plans for a huge canola crush plant at Regina are cruising ahead.
The company has bought 247 acres from the Global Transportation Hub (GTH), just west of the provincial capital for $38 million. The provincial cabinet recently approved the deal.
Cargill said that it would build at the GTH because of the road and rail infrastructure.
Jeff Vassart, president of Cargill Canada, said in a news release that the location would give farmers easy access for deliveries, as well as allow the company to efficiently deliver agricultural goods to end-users.
The $350-million plant is one of several announced for the province last year. Construction was expected to start this year on a facility capable of crushing one million tonnes of canola.
The plant should be operational by 2024.
“We see strong potential in the growth and competitiveness of the canola processing industry and look forward to helping farmers access the increasing market demand,” Vassart added.
The sale is the first parcel of land sold in the 1,800-acre GTH since 2017. In 2019, the province of Saskatchewan turned the troubled Hub over to Colliers International management in 2019.
The land was sold at market value for roughly $156,000 an acre, though there would have been negotiations on the price given the parcel is larger, according to the province.
The land was sold at market value for roughly $156,000 an acre.
