Pico Holdings has entered into contracts to build and operate a canola crushing plant and refinery near Hallock, Minn. The plant is expected to process up to 365,000 tons of canola seed annually producing 280 million pounds of refined, bleached and deodorized oil and close to 200,000 tons of canola meal.


The plant will be operational by the fourth quarter of 2012. The total projected cost of the facility will be $168 million of which $100 million will be provided in the form of loan capital.