MINOT (AP) - Construction of a canola biodiesel and food oil plant planned here will continue through next year, its organizers say.

The Dakota Skies Biodiesel LLC plant is being planned in Minot as part of an agricultural industrial park.

A New York investment group purchased the biodiesel project late last year to make fuel from canola, with plans to expand it and make oil for food products as well.

Construction of the plant had been on hold while its organizers sought financing. The project, initially pegged at $75 million, was reorganized in 2005 after European investors backed out.

The company's processing equipment is not expected to arrive until next year.

"We are anticipating construction well through 2008," said Jeremy Dockter, the company's president and chief executive officer. "New applications and permits have been submitted to the state. We expect them to be approved in August and anticipate to continue to do more construction late summer, early fall."

Dockter said St. Paul, Minn.-based Wenck Associates Inc. was hired in April as the plant's chief engineering and design firm.

Dockter said the goal is to produce about 50 million gallons of canola oil annually.

"The majority of the canola oil produced on site will go toward food market application with a minority being converted to biodiesel," Dockter said.

Dockter said Dakota Skies will be changing its name to Dakota Skies Industries. The two new subsidiaries, Dakota Skies Biodiesel and Dakota Skies Oil Seed Products, will reflect their respective names, he said.