Executive council is recommending to sell FCL a plot of land for $5.48 million.
The request entails a land purchase option agreement from FCL to the city as they state they own several sections of land north of the city. The plans are to build the plant near the Co-op Refinery Complex (CRC). FCL states the costs of developing the plant range from $1.5 to 2 billion.
If approved, the FCL hopes to add complementary agriculture processing facilities.
FCL states the proposed development could create about 1,500 construction jobs and and more 150 permanent jobs.
“This is an incredibly significant step in our commitment to that transition to the low-carbon economy of the future for us,” said Brad DeLorey, FCL director of communications and public affairs. “It’s an incredibly exciting opportunity, not just for us as an organization but one for the City of Regina.”
According to a report in a Regina Council agenda, the city needs to retain ownership of certain portions of municipally-owned lands to accommodate the Ring Road Rail Relocation Project to allow rail connection into adjacent lands in the area.
“Administration recommends that Council consider granting FCL the proposed option in relation to the remaining area,” as stated in the report to the City.
The report states that the proposed plant would have a similar impact to the True North Renewable Fuels (TNRF) project proposal that was discussed in March of this year.
“As the proposed land option agreement would result in the sale of land without a public offering, pursuant to The Regina Administration Bylaw, approval of Council is required,” the report stated.
Regina council says it’s not offering all the land requested, citing the city’s need to retain ownership for the ongoing ring road relocation program. The recommendation will be presented at tomorrow’s executive council meeting.