New canola plant planned


Finance note


expansion


Northstar Agri Industries, which recently opened a canola crushing plant at Hallock, Minnesota, near the Manitoba border, plans to build another plant in Enid, Oklahoma. 


The company hopes to have the plant operating in time to process the 2015 crop if it can secure debt financing and regulatory approvals.


The plant would process 760,000 tonnes of canola a year and employ 55 people.


Oklahoma farmers nearly doubled their area of winter canola this year to 250,000 acres, according to an estimate by Producers Co-operative Oil Mill in Oklahoma City.


“I believe winter canola production is a game changer for Oklahoma agriculture, providing a much needed rotation crop, improving winter wheat yields and quality while increasing and diversifying farm income,” Brent Kisling, an Enid area regional business development manager, said in a news release.


Northstar is a subsidiary of PICO Holdings Inc.