Ethanol Facility May Go Up In Killarney
Support local journalism. Don't let others regulate what news you see. Download our app
or bookmark pembinavalleyonline.com
to ensure you always have a direct connection to your trusted source for local news and information.
|By: Chris Sumner
A $60 million ethanol production facility could soon be constructed in Killarney.
The project is being spearheaded by former resident William Clements who is President of Ottawa based investment firm Canadian International Trade Group.
The plant would produce 100 million liters of ethanol per year from 275,000 tonnes of locally sourced feed wheat.
Clements says the plant would be built with the long term in mind, noting it would still be profitable even if current government subsidy programs for ethanol were cancelled.
Clements stresses, unlike the Husky expansion at Minnedosa, growers will be given the opportunity to invest in the project through a $50,000 equity share buy in.
The target is to raise $3 million locally with the remaining money coming from financing and outside investors.
He adds a major oil company has already expressed interest in investing in the project, and two major gasoline retailers have expressed interest in buying the ethanol produced.
Clements notes, first though, a feasibility study must be completed.
The goal is to have that done within the next three months.
Latest in Ag News
Latest stories on PembinaValleyOnline
Holiday Market for Red River Valley Parent Child Centre
Fri, Dec 1, 5:30 PM
Morden Thunder Charity Game
Fri, Dec 1, 7:45 PM
Ten Thousand Villages Presents: 2023 Winkler Christmas Sale--1 WEEK ONLY
Sat, Dec 2, 10:00 AM
3D Printing Presentation
Sat, Dec 2, 12:00 PM
Gift Box Fundraiser
Sat, Dec 2, 1:00 PM