A public hearing for a proposal to build a canola crushing plant in Olds that proponents say could create 55 jobs will be held in council chambers next month.
The public hearing on a bylaw to facilitate the project will be held on Monday, June 25 at 6 p.m. during a regularly scheduled council meeting.
The bylaw entails a request to re-designate land from urban reserve to light industrial to facilitate a pilot project for a canola crushing plant which would sit on five of the 94 acres of land.
The company is looking to invest $50-100 million into the pilot project, which would process 200 tons of canola per day. It has chosen Olds because of Central Alberta’s canola supply. The region has 1.4 million acres of canola.
There is no specific timeline on when the project will move from a pilot stage to full development, but the applicant anticipates it will be one or two years, as he wants to ensure that his technology works.
The proposed pilot project will use an existing house as office space, utilizing a well system and a holding tank. Once the project is no longer a pilot and is in full development, it will be required to use town services.
Additionally, when it is in full development, the facility is projected to create up to 55 new jobs.
Ryon Agro purchased the land in December of 2016.
On May 14, council gave the bylaw first reading in order to enable the public hearing to be held. Second and third reading will be up for discussion at a later date.
There was no formal presentation for the first reading. It served as an opportunity for council members to ask questions and gain clarity about the proposal.
