West Grey Mayor Kevin Eccles is confident a South Korean company will eventually set up a hydroponic ginseng greenhouse operation in his community.
Farm Credit Canada abruptly pulled out of the project in October which left the Korean company looking for another financier.
Eccles says he does not know why the FCC pulled away from the project, but he does understand the Korean company was not very pleased with some of the financial conditions that were being asked of them.
The Mayor says he has been involved in ongoing talks with EnCoTech and they still very much want to locate their operation in West Grey and are now in the process of lining up other financing.
The initial proposal would see the company building greenhouses to grow ginseng with hydroponics.
That project eventually would create about 200 new jobs in West Grey.
Eccles says while he is not as optimistic about the project as he was a few months ago — he is still convinced the venture will move forward.
He hopes construction will begin sometime in the Spring.
Meanwhile he says one of the objectives of the new council will be to sell West Grey to companies that may want to relocate to an area that is more business friendly and with close access to the 401 and southern Ontario hub.
