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Published July 24, 2009, 07:20 AM

Minot ag park to get canola plant

A Canadian company says it plans to build a canola processing plant in Minot’s agriculture park. Bio-Extraction Inc. of Toronto said it will begin construction on the facility next spring with production starting the following year. The facility will be on a 10-acre lot in the Valued-Added Agricultural Complex.

MINOT (AP) — A Canadian company says it plans to build a canola processing plant in Minot’s agriculture park.

Bio-Extraction Inc. of Toronto said it will begin construction on the facility next spring with production starting the following year. The facility will be on a 10-acre lot in the Valued-Added Agricultural Complex.

Jerry Chavez, president and CEO of the Minot Area Development Corp., said the company better known as BioExx fits in perfectly with the type of development officials are trying to foster in the ag park.

BioExx said its decision to build in Minot was based on several factors, including the availability of canola.

The company also is getting financial help. It said the Minot development group, with private lenders and the state-owned Bank of North Dakota, is proposing to provide about $25 million worth of assistance for the $50 million project.

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