The Government of Saskatchewan welcomes the announcement that Louis Dreyfus Company (LDC) will expand its canola crushing facility at Yorkton.
“This major investment by LDC is good news for Saskatchewan canola growers and good news for workers and the economy in Yorkton and right across the province,” Trade and Export Development Minister Jeremy Harrison said. “This expansion brings Saskatchewan even closer to several of the 2030 Growth Plan goals, including the ambitious goal of crushing 75 per cent of the canola produced in the province. This investment strengthens the province’s position as a global leader in agriculture value-added processing and will further increase Saskatchewan’s international exports.”
The facility’s new capacity will be over two million metric tons, which is more than double its current capacity. LDC initially opened the Yorkton facility in 2009 and currently employs approximately 120 people.
“This investment supports the group’s strategic growth plans by reinforcing core merchandizing activities, in this case with additional capacity to originate and process Canadian canola seeds to provide nourishment for people and livestock,” LDC Chief Executive Officer Michael Gelchie said. “It also positions LDC as a strategic feedstock provider to renewable energy producers and accelerates our contribution to a global energy transition that we are excited to be a part of.”
In addition to helping with the canola crushing goal, the expansion puts the province closer to meeting several other key goals outlined in Saskatchewan’s Growth Plan, including:
- Grow private capital investment in Saskatchewan to $16 billion annually;
- Increase the value of exports by 50 per cent;
- Grow Saskatchewan’s agri-food exports to $20 billion; and
- Increase agriculture value-added revenue to $10 billion.
Canola oil and canola seed were among Saskatchewan’s top three agri-food exports in 2022, with a value of $3.5 billion and $2.7 billion, respectively.
Construction of the additional canola crushing line is expected to begin later this year.
(Government of Saskatchewan News Release)