Potash Ridge Corporation (the "Company") (TSX: PRK), a North American premium fertilizer development company, today announced that its wholly-owned subsidiary, Valleyfield Fertilizer Corp. ("Valleyfield") has engaged Novopro Projects Inc. ("Novopro") to act as its lead Owner's Engineer to advance the potassium sulphate ("SOP") project through final engineering and construction completion.
Novopro will represent Valleyfield's interests in advancing the project through to full production, including activities being performed under the Engineering, Procurement and Construction contract awarded to SNC-Lavalin. Once complete, the Quebec-based SOP facility will be the first in North America to utilize the proven Mannheim Process.
"Novopro is very pleased to participate in this implementation phase SOP project, and given our past project experience, Novopro believes that we can add value to this phase by assisting Valleyfield with technical, commercial and project management based oversight," said Mazi Rejaee, Managing Director of Novopro.
"Quebec-based Novopro has a proven track record in our particular segment of the fertilizer industry and a depth of skill sets that will serve to protect our interests as we proceed through the technical and construction phase of the project," said Jay Hussey, Valleyfield's President.
This latest positive development follows several other recently announced commercial successes for Valleyfield including:
- Signed a 10-year hydrochloric acid offtake and funding agreement with Jones-Hamilton Co.;
- Signed a five-year agreement with a major North American supplier for 100% of Valleyfield's sulphuric acid requirements; and
- Engaged leading SOP producer; Migao Corp., to provide technical, construction, commissioning, operations, and maintenance support services.
The Company continues to focus on advancing the following activities:
- On-going negotiations with several industry leaders for distribution rights for the sale of SOP fertilizer;
- Source supply of the primary raw material – potassium chloride (potash); and
- Formalizing debt financing package to fund Valleyfield through to operation.
The Company has made considerable progress on these activities and expects to provide additional information over the coming weeks.
Valleyfield's production of SOP will serve the growing market demand for low-chloride fertilizers for a wide variety of fruits, vegetables, and other chloride intolerant crops that are grown across the east coast of North America.
Source: CNW