Germany's K+S breaks ground on C$3.25bn Canada potash project

20 June 2012 15:52  [Source: ICIS news]

K+S breaks ground on Canada potash projectTORONTO (ICIS)--K+S has officially broken ground at its Canadian dollar (C$) 3.25bn ($3.19bn) potash project in Canada’s Saskatchewan province, the Germany-based fertilizer firm said on Wednesday.

CEO Norbert Steiner said that the project will, in combination with K+S’ German potash mines, significantly strengthen the company’s international competitiveness.

The project is the first grassroots potash mine to be built in Saskatchewan in more than 40 years.

K+S expects to produce its first potash volumes at the mine by the end of 2015, with production to reach 2m tonnes/year by 2017.

In a second phase, production will gradually be expanded to 2.86m tonnes/year by 2023.

K+S’ C$3.25bn investment covers the project’s first two phases. In a subsequent third phase, total output could be expanded to 4m tonnes/year by 2033, the Kassel-based firm added.

($1 = C$1.02)

By: Stefan Baumgarten
+1 713 525 2653

AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly

Get access to breaking chemical news as it happens.
ICIS Global Petrochemical Index (IPEX)
ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index