Regina will soon be home to a new state-of-the-art canola processing facility. Cargill announced plans to begin construction of a new $350 million project next year and it will be operational by 2024.
"Saskatchewan is a leader in agriculture production and through investments such as this we are growing our capacity to process these products at home," Premier Scott Moe said. "We welcome this significant investment and look forward to working with Cargill to add value to the canola our producers grow, create local jobs and support Saskatchewan's economic growth."
"Saskatchewan is a reliable exporter of food and agriculture products to a growing world and this new project will help us continue to meet that demand," Trade and Export Development Minister Jeremy Harrison said. "This new Cargill facility, and our growing canola processing sector, will strengthen our reputation as the world's leading exporter of canola seed, canola oil and canola meal."
"Our Saskatchewan producers are known worldwide for the safe, high-quality commodities that they produce and this announcement creates the opportunity for them to see a higher return for their product," Agriculture Minister David Marit said. "We are excited to see companies like Cargill recognizing that there is no better place to do business than Saskatchewan."
"Cargill is excited to continue to build our business in Canada. We see Saskatchewan as the right place to make this investment, as Regina is well-positioned in the canola production area and there is ample talent available to support the new facility," Cargill Canada President Jeff Vassart said. "We look forward to helping farmers access the market opportunity from the rapidly growing global demand for canola."
The new facility is projected to have an annual production capacity of 1 million metric tonnes and will provide a consistent and fast point of delivery for farmers and end users. This investment will generate approximately 1 million hours of employment throughout the construction phase and approximately 50 full-time positions upon completion of the project.
Cargill's new facility will help the province reach Saskatchewan's Growth Plan goal to crush 75 per cent of the canola the province produces in Saskatchewan. It will also support Growth Plan goals to grow Saskatchewan's agri-food exports to $20 billion, increase agriculture value-added revenue to $10 billion, increase the value of exports by 50 per cent and grow private capital investment in Saskatchewan to $16 billion annually.
In addition to constructing this new facility, Cargill will also update and modernize its canola facility in Clavet over the next 12 months to increase volume and broaden capabilities at that location.
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