A proposal that would see government and farmers invest in the financially troubled Olymel hog plant in Red Deer is still alive, said its main architect.
Mack Rennie, general manager of the Western Hog Exchange, said farmers at two recent focus groups in Red Deer about the Western Pork Investment Corp. gave him plenty of positive feedback to keep forging ahead.
“There is nothing definite, but I feel we have made great strides in the last few months,” said Rennie.
“Very shortly, we will move forward. There are lots of details, but nothing has been finalized.”
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The plan is looking for $50 million to invest in Olymel and increase the kill to 80,000 pigs per week.
Rennie said he could reveal little about the negotiations.
Paul Hodgman, executive director of Alberta Pork, said his organization has always supported the idea of producers becoming involved in Olymel. Three members of Alberta Pork sat on Western Pork Investment Corp.’s board to represent pork producer’s interest. Alberta Pork chair Herman Simons recently stepped down from the corporation’s board.
Hodgman doesn’t know when a plan will be finalized or when farmers would be able to invest in the former Fletcher’s plant they once owned.
“A lot of it is still pretty conceptual. There’s a lot of things to be done yet,” he said.
“I know there will be a lot of further discussion.”
