Investment will increase potash throughput capacity by 1.5 million tonnes
North Vancouver, BC – Neptune Terminals today announced plans by its shareholder Canpotex to invest $37.5 million dollars to upgrade the existing potash facility at the North Shore terminal. This project will increase terminal throughput speed and provide Canpotex with an additional 1.5 million tonnes of capacity to export potash.
“This investment by Canpotex will allow us to better service the Pacific Gateway,” said Jim Belsheim, President of Neptune Terminals. “We are proud to see such investments which help support shipments of Canpotex’s potash products to international markets.”
This project, which will commence immediately, is expected to take 18 months to complete and will include improvements to terminal conveyor and material handling systems.
The decision to undertake this project is in support of the Saskatchewan potash mine expansions by Canpotex Members, and the fundamentals for long-term growth of potash demand in Canpotex’s markets. Government support of the North Shore Trade Area and the extension of Neptune’s current lease by Port Metro Vancouver were important steps in creating a positive climate at Neptune Terminals for Canpotex to make this substantial infrastructure investment.
