By Rod Nickel
By Rod Nickel
WINNIPEG, Manitoba, March 22 (Reuters) – Richardson Worldwide plans to double its canola crushing capability at Yorkton, Saskatchewan, to 2.2 million tonnes yearly, making it Canada’s largest such plant, the corporate and provincial authorities mentioned on Monday.
Canola manufacturing has grown quickly in Western Canada, the world’s greatest producer of the yellow-flowering crop. Costs final month hit all-time highs, as world demand soared for oilseeds to make vegetable oil and animal feed.
Booming North American demand for renewable diesel, a clean-burning street gas that refiners can produce from canola oil and different feedstocks, has added to curiosity within the crop.
Privately held Richardson intends to start out development instantly and end the venture in early 2024, the corporate mentioned in a press release. The 11-year-old Yorkton plant is within the coronary heart of Canada’s canola-growing belt, with entry to each Canadian Nationwide Railway Co CNR.TO and Canadian Pacific Railway Ltd CP.TO.
The corporate didn’t launch a price estimate.
(Reporting by Rod Nickel in Winnipeg; modifying by Jonathan Oatis)
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