Federated Co-operative Limited creates JV for canola crush facility

January 17, 2022 |

In Canada, Federated Co-operative Limited (FCL) has signed a memorandum of understanding to form a joint venture (JV) partnership with AGT Food and Ingredients Inc. (AGT Foods). The newly formed JV will look to construct a C$360 million canola crush facility. The partnership with AGT is a 51%-49% split, with FCL holding the majority ownership stake. The canola crush facility will supply approximately 50% of the feedstock required for a 15,000-barrel-per-day renewable diesel plant, with the remainder of the supply contracted from other canola crush facilities. 

The canola crush plant is part of a $2 billion investment FCL is making in the construction of an Integrated Agriculture Complex (IAC). The announcement builds on the company’s recent announcement that FCL is advancing plans to construct a renewable diesel facility in the Regina area. The IAC will include the recently announced renewable diesel plant and canola crushing plant that will produce the feedstock for the plant-based fuels produced at the renewable diesel facility. 

Category: Fuels

Thank you for visting the Digest.