Genesis Seeks Capital Raise for Urea Plant
Farmer-owned
Genesis Fertilizers LP, Saskatoon, has launched a C$400 million capital raise
to build a $1.5 billion urea plant in Western Canada that would produce 700,000
mt/y. A site has not been selected.
In the meantime, Genesis
reports that the construction of its planned SuperCenter in Belle Plaine, Sask.
(GM Feb. 3, 2017) is now moving forward.
The company plans seven such SuperCenters across Western Canada. Genesis Grain
& Fertilizer LP, which is building the Belle Plaine facility, was formed in
2014 by Saskatoon-based Farmers of North America (FNA).