The proposed Genesis fertilizer facility at Belle Plaine has moved ahead another step.
The project has received conditional approval from the Saskatchewan Ministry of Trade and Export Development for the Saskatchewan Chemical Fertilizer Incentive program.
Genesis says the approval is a significant step forward on the option for the proposed construction of the Genesis Fertilizer Urea production at the Genesis Belle Plaine Industrial site.
If the new 1.5 billion dollar fertilizer plant is brought into operation, Genesis would receive up to 225 million dollars in tax credits over a 10 year period.
Genesis CEO Jason Mann says approval of the tax incentive puts the province in a competitive position with Alberta, which is also actively seeking to have the Genesis 700 thousand ton urea plant located in Alberta.
Whichever location Genesis chooses, it will be for the long-term benefit of farmer investors.
Genesis says the proposal will combine mass production of granular urea with a prairie-wide distribution network.
Once underway, construction would create construction jobs for 3 years and provide over 500 jobs upon completion.
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