The plant will process 700,000 MT annually
By Diego Flammini
A new urea production plant could be constructed in Saskatchewan.
Following two years of discussions with the provincial government, Belle Plaine could be the home of Genesis Fertilizers’s 700,000 MT farmer-owned urea plant.
This “SuperCenter” would be a fertilizer storage and blending facility, have the capability to load trucks from rail cars and the capability to unload trucks and rail cars at a rate of 800 tons per hour.
Genesis is in the process of securing land to build the facility on, and equity and capital to finance the project, which is estimated to cost around $1.7 billion.
The plant will also create more than 130 full time jobs once urea production begins.
This fertilizer plant will benefit farmers across Canada, said Barrie Mann, vice president of investor relations with Genesis.
"Canadian farmers will be the real winners with Genesis Fertilizers positioned to move forward,” he said in a statement. “Whether from B.C., the Prairies, or Eastern Canada, if this project is completed, being a farmer-investor will help farming operations manage their fertilizer costs, supply availability and ultimately keep industry profits local.”
Farmers are excited about the potential this plant could bring.
John Lloyd, a farmer from the Rosetown area, locked in an offtake agreement (an arrangement between a producer and a buyer to purchase or sell portions of the producer’s upcoming goods) for the urea he uses directly from the Belle Plaine location.
“There is no reason farmers can’t own a fertilizer plant, we use urea every year and we use a lot of it, why not go direct to farm?” he said in the Genesis release. “This will be a game changer for current and future generations.”