Federated Co-operatives Limited announced plans yesterday for a $2 Billion Integrated Agriculture Complex.
Premier Scott Moe says this is a win for Saskatchewan's economy and the province's producers.
"This is one of the largest investments that has ever been made in this province. Likely the largest investment intentionally made by FCL and AGT together, and what an exciting project it is for the people of Saskatchewan. The new canola crush plant. It's the fifth significant investment that we've seen in this industry over the course of the past year."
Moe says along with plans for a renewable diesel fuel plant, FCL is partnering with AGT Foods on a $360 million canola crush facility.
"And part of this effort is taking more canola that's grown in this province. And processing that canola right here in Saskatchewan, and then providing that high quality canola oil to the world."
He notes it fits in well with Saskatchewan's Growth Plan of processing 75 per cent of the canola grown in the province, and increasing Agriculture's value-added revenue to $10 billion a year.
SaskCanola's Policy Manager Dale Leftwich says they're excited about the announcement because it helps to diversify our markets.
"Farmers know that they're going to have a good market for their canola. And also that it's that it's a domestic market, and we don't have to worry quite so much about the variability of export markets. So it's very good for Saskatchewan, because Saskatchewan actually has a little bit of market disadvantage when it comes to exporting to either coast. So the idea of having this domestic market in Saskatchewan is really helpful."
He notes that the idea that it's also in association with AGT is really good as well for us.
"Because with all of the production, the canola crushing plants that are going in, we also need a market for the meal. And the fact that AGT is there and can blend a meal with some of the peas is actually very good. It's very good in a great many ways."
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