Federated Co-operatives says Regina City Council has officially approved an offer to purchase land north of the Co-op Refinery Complex.
The land is slated for a renewable diesel plant and FCL says the approval of the $5.48 million land purchase is an integral step towards building the plant.
FCL sees this as playing a vital role in the company’s transition to a low carbon economy. CEO Scott Banda says, “Renewable diesel will provide our local Co-ops with the ability to sustainably support Western Canada’s fuel needs well into the future, while ensuring our co-operative has another viable solution to meet our regulatory obligations.”
FCL estimates construction of a renewable diesel plant will create approximately $1.85 billion in economic activity through job creation and construction spinoffs. And once operational, the company says the plant will employ up to 150 people and utilize primarily locally grown canola as its main production feedstock.
FCL plans to have the renewable diesel facility operational by 2027.
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