Federated Co-operatives Limited (FCL) has 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, however, the $5.48 million land purchase option is a step towards the construction of the plant, says FCL.
The construction of a renewable diesel plant will create approximately $1.85 billion in economic activity through job creation and construction spinoffs.
Scott Banda, chief executive officer of FCL says the project will play a vital role in FCL’s transition to the low carbon economy.
“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,” Banda says.
FCL plans to have the renewable diesel facility operational by 2027.