SASKATOON, Sask. — Canpotex, the Saskatchewan-based potash supplier, is investing $500 million in a new infrastructure project at the Neptune Bulk Terminals, which will include replacing and refurbishing equipment.
“Saskatchewan potash helps feed a growing world, and this investment in shipping capacity, made possible by Canpotex, will help deliver more of this vital nutrient to the people who need it,” Premier Scott Moe said at a groundbreaking ceremony Friday.
“By moving more Saskatchewan potash to international markets, this project will create new opportunities and support good jobs and economic growth in our province as well as across Canada. This expansion will strengthen global food security and reinforce Saskatchewan’s position as the world’s leading potash producer and a trusted, secure, reliable and ethical supplier.”
"Saskatchewan is where this story starts," Canpotex President and CEO Gordon McKenzie said.
"Today's investment at Neptune means we will be able to reliably export Saskatchewan potash through the Port of Vancouver to farmers overseas for decades to come."
Based in Saskatoon, Canpotex markets and delivers potash produced by Mosaic and Nutrien, the two largest Saskatchewan potash companies. For over 50 years, Canpotex has marketed and delivered high-quality Canadian potash to more than 40 countries overseas. Over its lifetime, the company has sold and shipped 325 million metric tonnes of potash to millions of farmers.
"Port of Vancouver terminals, such as Neptune, are playing an outsized role moving more of what Canadians make to overseas markets in support of Canada's goal to double exports to non-U.S. markets," Vancouver Fraser Port Authority President and CEO Peter Xotta said.
"Canpotex's significant investment to upgrade Neptune Terminals will better connect Saskatchewan potash to key markets in South America, the Indo-Pacific and beyond. Investments like Canpotex's are crucial as we continue to grow exports through Canada's largest port."
For more information, visit: InvestSK.ca.
