Federated Co-operatives says it will spend $2 billion to build a new renewable diesel fuel and canola-crushing plant in Regina, Saskatchewan as part of its efforts to reduce greenhouse gas emissions and combat climate change.
The oil-production business announced that the Integrated Agriculture Complex will be built in Regina near the company's co-op refinery and in partnership with global pulse-processor and supplier AGT Foods.
Federated Co-operatives said it has made a commitment to reduce its greenhouse gas emissions by 40% by 2030 and get to net-zero emissions by 2050.
Once built, the diesel plant will have a production capacity of 15,000 barrels a day, or about one billion litres annually.
The canola facility is expected to produce 450,000 tonnes of oil. The project is expected to create more than 2,500 construction jobs and 150 permanent operating jobs and is planned for completion by 2027.
The Government of Saskatchewan has called the project one of the largest investments in the province’s history.
Federated Co-operatives, which operates other assets including gas stations, says it has started to move to cleaner production and is exploring carbon capture technology.
