Canpotex announces $500M Port of Vancouver investment to modernize potash terminal
The joint venture plans to replace shiploaders and conveyors at Neptune Bulk Terminals by 2028, maintaining continuous shipping during construction.
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Canpotex, the joint venture owned by Mosaic Company and Nutrien Ltd., announced a $500 million investment to replace and modernize infrastructure at Neptune Bulk Terminals at the Port of Vancouver.
The project will upgrade shiploaders, conveyors, and other infrastructure at the potash terminal. Construction is expected to be completed in 2028, with shipping continuing uninterrupted throughout the work.
Canpotex CEO Gordon McKenzie said the investment "means it will be able to export potash through the Port of Vancouver for decades to come." The company markets and delivers potash produced by its two parent companies and is based in Saskatoon.
Saskatchewan Premier Scott Moe issued a news release supporting the project, saying it will support economic growth in the province and Canada as a whole. The project will move more potash to international markets. However, the announcement does not specify when construction will begin, provide a timeline for costs, or state how many jobs the project will create.
The facts
How much is Canpotex investing in the Port of Vancouver?
$500 million is being invested to replace and modernize infrastructure at Neptune Bulk Terminals.
Who owns Canpotex?
Canpotex is jointly owned by Mosaic Company and Nutrien Ltd.
When will the modernization project be completed?
Construction at Neptune Bulk Terminals is expected to be completed in 2028.
