TORONTO– Canpotex Ltd. shelved plans to construct a new export potash terminal at the Slot of Prince Rupert in British Columbia, after the potash investor found out there isn’t really adequate demand to progress.
“This decision was created after cautious deliberation from Canpotex’s current as well as anticipated incurable ability needs, as well as the possibilities our team need to comply with those demands,” mentioned Ken Seitz, Canpotex’s president and also CEO.
Canpotex is collectively possessed through The United States’s three biggest potash miners– Potash Corp of Saskatchewan, Mosaic Co. and also Agrium Inc.– and markets and also circulates their potash, a key plant food element, abroad.
In 2014, Canpotex signed a lease deal along with the Prince Rupert Port Authority to devote 775 thousand Canadian bucks ($ 601 million) to construct a new potash terminal on Ridley Island. The terminal’s original plans included a potash storage property with conveyor and also dust-collection systems and a sea jetty efficient in dealing with vessels with a lifeless weight ability from 180,000 metric tons.
The brand-new station was actually targeted at boosting Canpotex’s export capacity while providing Chinese buyers even more quickly in comparison to other centers along the West Coastline.
Even with Canpotex’s decision to finish its deal along with Royal prince Rupert, the port possesses many other growth projects under way.
DP Planet, the Dubai-based ports operator, revealed strategies to examine a more growth at Royal prince Rupert’ sFairview compartment station to improve its own yearly dealing with ability to 2 thousand 20-foot compartments, or TEUs, coming from regarding 1.35 million.
Calgary-based AltaGas Ltd. revealed that January it plans to create a natural-gas export amenities on Ridley Island near Royal prince Rupert capable from shipping up to 1.2 million lots of propane a year.
Contact David George-Cosh at david.george-cosh@wsj.com
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