Canadian cooperative Federated Co-operatives Limited (FCL) has announced plans to build a US$2bn integrated agriculture complex (IAC) near Regina, Saskatchewan.
As part of the move, FCL said it had formed a joint venture with leading plant-based protein company and grain processor AGT Food and Ingredients (AGT Foods) to build a US$360M canola crushing facility in the region.
FDL holds the majority stake in the 51%/49% partnership with AGT.
The canola crushing facility would supply approximately 50% of the feedstock required for a 15,000 barrels/day renewable diesel plant, FCL said in its 17 January statement, with the remainder sourced from other operators.
“We believe that AGT’s capabilities in grain logistics and plant protein ingredients combined with FCL’s… history in energy and farm inputs creates a powerful partnership,” AGT Foods president and CEO Murad Al-Katib said.
FCL is a co-operative owned by more than 160 independent local co-operative associations in Western Canada.
AGT Foods is a Canadian processor of pulses, grains and other food ingredients for both domestic and export markets.