TORONTO — Sucro Can Sources LLC, an integrated sugar refiner, said it plans to build Canada’s largest sugar refinery in Southern Ontario with annual refining capacity of 1 million tonnes. The cost of the plant was estimated at $100 million.
“Sucro is demonstrating supply chain innovation and a willingness to invest in new refining capacity in both Canada and the United States,” said Jonathan Taylor, founder and chief executive officer of Sucro Sourcing. “We have been strongly supported by our extremely loyal and growing customer base. The sugar markets in both Canada and the United States are experiencing steady, long-term, sustainable growth, and Sucro is investing to supply these growing market demands.
“Despite the steady market growth, overall refining capacity in both Canada and the United States has been stagnant for years. In particular, the demand for sugar in the Ontario market is growing at what we believe is the fastest rate in North America. We also believe a modern, new refinery in Ontario will be very well placed to service any potential market demand for refined sugar in the US market, and fully utilize Sucro’s highly integrated supply chain already in place to service customers in the US market.
The refinery is expected to open in 2025 with production brought up to capacity as market demand dictates.
“Due to Sucro’s successful low-cost focus in building its previous sugar refineries, including the recently opened sugar refinery in Lackawana, NY, this new Ontario refinery will not need to be fully utilized shortly after opening,” said Don Hill, chairman of Sucro. “Instead, Sucro will patiently add production based on growing market demand, including any potential export opportunities to the United States.”
Sucro Sourcing has a production, sales and sourcing network across North America, two refineries and a processing facility.