Canada's third-largest grain company said on Wednesday it was looking for a North American site to build a C$100 million ($90 million) canola crushing plant that will produce vegetable oil and high-protein animal feed.
"It will be the largest plant that is in this marketplace," James Richardson International President Curt Vossen said at a press conference. The plant will have the capacity to process 840,000 tonnes of canola, or 2,400 tonnes daily. The bulk product will be sold to the North America and international export markets, Vossen said.
The Winnipeg, Manitoba-based subsidiary of privately owned James Richardson and Sons Ltd aims to find a location for the plant by the end of this summer. Construction was expected to begin before the end of the year and will take an estimated 18 to 24 months.