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Canpotex Ltd., the overseas marketing arm of Saskatchewan’s three largest potash producers, has abandoned its plans to build a $775-million shipping terminal at the Port of Prince Rupert in British Columbia.
“This decision was made after careful deliberation of Canpotex’s current and anticipated terminal capacity needs, and the options we have to meet those needs” Canpotex’s president and CEO Ken Seitz said in a news release.
The potash marketing giant’s board of directors’ decision was “based on economic and commercial considerations” and the fact it currently has sufficient port capacity to meet its needs, according to the news release.
A spokeswoman for the company confirmed in an email that Canpotex has contributed $15 million to the port’s road, rail and utility corridor, but said additional project costs are confidential.
