Global agricultural, energy and industrial products company Ceres Global Ag Corp (Ceres) is planning to build a US$350M canola processing plant in Northgate, Saskatchewan, the company announced on 25 May.
The facility would have the capacity to process 1.1M tonnes of canola and refine more than 500,000 tonnes of canola oil, for both food and feed, annually, according to the company.
“This is an exciting time for Ceres Global as we position ourselves to take advantage of the unprecedented demand for oilseed crush in North America,” Ceres president and CEO Robert Day said.
“While there are multiple drivers contributing to this demand, the most important is the movement towards green energy and the need for vegetable oil as feedstock for the production of renewable diesel. We have been analysing canola crush at Northgate for several years as its location along the Canada-US border is ideally located to originate canola seed from our farmer partners, and with a direct connection to BNSF Railway, it provides the most efficient access to the US market and US ports.”
The plant was expected to become operational by the summer of 2024, Ceres said.
Headquartered in Minneapolis, Minnesota, Ceres Global – and its affiliated companies – has 13 operations in Saskatchewan, Manitoba, Ontario, and Minnesota, with a total grain and oilseed storage capacity of approximately 32M bushels.
According to its website, Ceres Global has a 50% interest in Savage Riverport (a joint venture with Consolidated Grain and Barge Co), a 50% interest in Farmers Grain (a joint venture with Farmer’s Cooperative Grain and Seed Association), a 50% stake in Gateway Energy Terminal (an unincorporated joint venture with Steel Reef Infrastructure Corp), a 25% interest in Stewart Southern Railway Inc (a short-line railway located in southeast Saskatchewan), and a 17% interest in Canterra Seed Holdings (a Canada-based seed development company).