FCL secures land option for renewable diesel plant
Federated Co-operatives Limited (FCL) announced that Regina City Council has officially approved an offer to purchase land north of the Co-op Refinery Complex (CRC).
The land would be used to construct a renewable diesel plant. Construction of the new plant is still subject to market conditions and securing necessary government approvals and support.
“This project will play a vital role in our transition to the low carbon economy,” said Scott Banda, CEO, FCL. “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. We thank Mayor Masters and Regina City Council for recognizing the benefits of this project, for the City, for FCL and for Western Canada.”
The $5.48 million land purchase option for the renewable diesel plant will create approximately $1.85 billion in economic activity through job creation and construction spinoffs. Once operational, the plant will employ up to 150 people and utilize primarily locally grown canola as its main production feedstock.
“This major project is a tremendous opportunity for both the sustainability and the economic goals of our city,” said Sandra Masters, Mayor, Regina . “By approving this land option, Council is further signalling that Regina is a place for investment. We are so pleased to have partners like FCL that want to invest locally and that choose to combine their long-term strategic goals with the future prosperity of our city.”
FCL plans to have the renewable diesel facility operational by 2027.