December 10, 2007

Louis Dreyfus, Mitsui build canola oil plant in Canada

Mitsui & Co and Louis Dreyfus Commodities will build a large canola oil crushing plant in Canada with total investment cost of $120 million with operations seen to start in the first half of 2009.

The plant, to be built in Saskatchewan, will be capable of producing 850,000 tonnes a year of canola oil and feed, one of the largest in North America, a Mitsui spokeswoman said.

Mitsui will invest 3 billion yen (US$30 million) in the new firm for a 40 percent stake, with the rest owned by the Louis Dreyfus.