Canpotex has announced a CAN$500 million investment in Neptune Bulk Terminals located at the Port of Vancouver, Canada, the company's largest ever supply chain investment.
The project will modernise critical infrastructure at Neptune, strengthening the long-term reliability, resiliency, and performance of one of the world's most important potash export facilities, ensuring Canadian potash continues to meet growing demand from overseas customers.
The announcement was made at a groundbreaking ceremony attended by Neptune Bulk Terminals, the Government of Canada, Government of Saskatchewan, the Port of Vancouver, and supply chain partners.
Neptune is the world's largest potash export terminal and the Port of Vancouver is the most critical export gateway for Saskatchewan potash. The project will replace and modernise essential marine and terminal infrastructure, including replacing the shiploaders, conveyors, and the dumper pit necessary for unloading railcars and loading vessels. These improvements will ensure Neptune remains Canpotex’s most efficient terminal for decades to come.
"The world will need more potash, and Canada should be the country that supplies it," said Gordon McKenzie, President and CEO of Canpotex. "That starts with reliability. Customers need confidence that Canadian potash will arrive when they need it, year after year. Canpotex has delivered on that promise for over 50 years, and this investment helps ensure we can continue delivering on that promise for decades to come."
Demand for potash continues to grow as farmers work to produce more food for a growing global population. Canada holds the world's largest potash reserves, and for more than 50 years Canpotex has connected Saskatchewan potash with customers in overseas markets. More than15 million tpy of Canadian potash move through the Canpotex supply chain to customers in more than 40 countries.
Reliability is part of the brand Canpotex has established for Canadian potash overseas, and Canpotex has invested heavily in its own supply chain to protect that reputation. That investment includes more than 8500 custom railcars (almost all built in Hamilton Ontario), a dedicated railcar maintenance facility in Saskatchewan, three port terminals in North America, and chartering its own vessel voyages. This CAN$500 million investment builds on nearly CAN$1.5billion Canpotex has invested at Neptune over the past twenty years.
Construction is expected to support 400 - 500 jobs, with an estimated 85 - 90% of project spending directed to Canadian suppliers and contractors. The project reinforces a supply chain that supports thousands of Canadian jobs and helps position Saskatchewan and Canada as reliable suppliers to overseas markets.
Construction is expected to be completed in 2028, and customer shipments will continue uninterrupted throughout construction.