Sask. NDP call for emergency meeting after approval of Viterra-Bunge merger

Viterra's headquarters in Regina can be seen in this file photo. (David Prisciak/CTV News)

Members of the Saskatchewan NDP Standing Committee on the Economy have called for an emergency meeting in light of Regina-based Viterra being acquired by Missouri-headquartered Bunge and two major construction projects in Regina being put on hold.

The NDP said the merger will result in the loss of $770 million in annual revenues, citing an economic impact report by the Saskatchewan Barley Development Commission.

It also said the Agricultural Producers Association of Saskatchewan (APAS), Grain Growers of Canada, SaskWheat and other representatives have all spoken out against the merger.

“Saskatchewan has so many opportunities. We see it in every corner of our great province. Whether it’s technology, manufacturing, or our resources, in this province, we have what the world needs,” deputy-chair of the standing committee, MLA Tajinder Grewal said.

Grewal also said the urgent meeting is needed to thoroughly examine factors that led to the merger.

According to the NDP, they are also seeking the emergency meeting following the indefinite pause of two major projects in Regina that were forecasted to create a direct economic impact of $4.5 billion.

Last week, Federated Co-operatives Limited (FCL) announced an indefinite pause on a canola crushing plant and renewable diesel facility that were to be located north of the Co-op Refinery Complex in Regina.

FCL said the projects were halted because of “political uncertainty, potential shifts in low-carbon public policy and rising costs.”

• Download the all new CTV News app for local breaking news alerts on your smartphone

Construction of the two facilities was estimated to create 2,500 jobs. Once operational, an estimated 300 permanent jobs would’ve been created between the two facilities, according to FCL.

“We’re talking about billions of dollars and thousands of jobs – gone in a week and not a single word from the Sask. Party. This isn’t the time for radio silence,” Sally Housser, Saskatchewan NDP shadow minister for energy and resource development said.

The NDP said it is continuing to advocate for the removal of PST on value-added projects, which it feels would have helped lower the increasing costs of the two facilities.

Grewal said he wrote to Chair MLA James Thorsteinson asking to convene the emergency meeting that would hopefully result in urgent recommendations to create good jobs and attract investment moving forward.

An emailed statement to CTV Regina from the Saskatchewan Party government said they received Grewal’s letter and “will be reviewing it.”