Québec’s provincial government will put up $20 million toward a planned new canola and soybean crushing plant destined for the province’s central region.
Twin Rivers Technologies (TRT), a Boston-area chemical company specializing in fatty acids, glycerin, esters and biofuels, combined with ETGO (Entreprises de transformation de graines oleagineuses du Québec), a Québec oilseed processor, plan to invest $153 million to build the plant in an industrial park at Bécancour, just across the St. Lawrence from Trois-Rivieres.
According to a press release Monday from the province, announcing the repayable contribution from its Strategic Support for Investment program (PASI), the TRT-ETGO plant is expected to employ 80 people and generate sales of $450 million per year.
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The new facility is also expected to handle refining of canola, soy and palm oils, destined for food processing, while the meal from the crush process will be directed to the hog, poultry and cattle feed sectors, the province noted.
The company’s president John McNamara said in the release that the unique project would produce quality food oils for consumers in the eastern states and provinces.
Provincial Economic Development Minister Raymond Bachand noted in the release that management of the TRT-ETGO project also had their eye on another site in the northwestern U.S.
Provincial Agriculture Minister Laurent Lessard said the new plant offered significant spinoffs for the central region and the province’s agri-food industry generally.
“The establishment in Québec of a new seed oil supplier means that our food processing plants will have ready access to supplies,” he said. “The plant will encourage Québec farmers to produce more soy and canola.”
