Canpotex puts $500 million into Neptune terminal upgrade at the Port of Vancouver
The Saskatchewan potash exporter is replacing and refurbishing equipment at the North Vancouver bulk terminal to keep shipments flowing for decades.
Saskatoon-based potash exporter Canpotex announced on Friday that it will invest $500 million to replace and refurbish equipment at Neptune Bulk Terminals in North Vancouver, part of the Port of Vancouver. The announcement came at a groundbreaking event attended by Saskatchewan Premier Scott Moe.
Canpotex markets and ships potash for producers including Nutrien and Mosaic, delivering more than 15 million tonnes a year to customers in over 40 countries. President and CEO Gordon McKenzie said the upgrade will let the company reliably export Saskatchewan potash through Vancouver to overseas farmers for decades to come.
Vancouver Fraser Port Authority president and CEO Peter Xotta called the investment significant, saying it will better connect potash to markets in South America and the Indo-Pacific. Moe said the project will support jobs and economic growth in Saskatchewan and across Canada.
For the West Coast, the project is another large private bet on export capacity at Canada's biggest port, where terminal operators, logistics firms and the software suppliers that serve them all depend on steady trade volumes.
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