Author: AM 1250/Mix 96 News
|The province's first industrial hemp fibre processing plant is looking for investors. Parkland Biofibre Limited plans to construct a facility in Dauphin capable of processing 36,000 tonnes of hemp straw into fibre and by-products annually. About 15,000 acres of hemp will be needed to supply the plant. President Don Dewar says the price tag is $15 million, but $10 million of that will come from debt financing. The remaining $5 million will come from cash raised, and straw committed to the plant for future delivery. Dewar notes one of the products being made at the facility will be a batt insulation product which can replace fiberglass insulation. The company has until the end of October to raise the capital, with next spring as a construction start date target.