Cargill announces $350M canola processing facility in Regina

Cargill has announced plans for a $350-million canola processing facility in Regina.

In a news release Thursday, the international food company, headquartered in Minnesota, said the new facility will support a growing global demand for canola products.

The company expects to start construction early in 2022 and plans for the facility to be operational by early 2024, the news release said. The processing facility will be designed similarly to Cargill's existing facility in Camrose, Alta., according to the company.

Following Thursday's announcement, CBC News asked Cargill if it is the undisclosed company that recently optioned more than 250 hectares of land north of Regina, in a $4-million deal. In an emailed statement, the company says it is not the company that optioned that land.

The company will determine the best location for the new facility in the coming months, the statement said.

In the company's news release, Cargill Canada president Jeff Vassart said the company is "confident in the continued growth and competitiveness of the canola processing industry" and looks forward "to helping farmers access increasing market demand."

The Regina facility is expected to have an annual production capacity of one million metric tonnes, the release said, and will offer a consistent point of delivery for farmers and end users.

About one million hours of employment will be created during construction and the facility will have about 50 full-time positions when operational, the company says.

In a statement, Premier Scott Moe said the province welcomes the "significant investment."

"Saskatchewan is a leader in agriculture production and through investments such as this we are growing our capacity to process these products at home," Moe's statement said.