Several western Canadian organizations representing producers have joined the fray in expressing their concerns over the proposed merger of Regina based Viterra with the Swiss-founded company Bunge.
By Jim Smalley
Apr 26, 2021 9:37 AM
Regina-based Viterra has announced plans to build a multi-million dollar canola crushing facility in the Queen City.
Viterra says the annual crush capacity would be 2.5 million tons, making it the world’s largest integrated canola crush facility.
Viterra says oilseed crush is expected to continue strengthening in the long term due to demand for canola oil in food, as well as meal consumption in animal feed and supplying feed stock for renewable fuel production.
The additional production is designed to support Ottawa’s intended clean fuel standard, to reduce greenhouse gas emissions.
Cost of construction was not revealed, but Cargill last week announced a one million ton crush plant for Regina at $350-million.
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Viterra is the mystery buyer of 633 acres of city-owned land on the northern outskirts of Regina, according to sources familiar with the matter.
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Mayor Sandra Masters said she didn’t want to reveal any additional information “that could potentially jeopardize” the deal.
“Any competitor that caught wind of it could potentially insert themselves on a very minor scale, which could ruin the compilation of land needed for something of this magnitude to go forward,” she said during Monday’s meeting.