Genesis Fertilizers choose Saskatchewan for site of new plant
January 13, 2023 By Top Crop Manager
Genesis Fertilizers Ltd. Partnership announced it plans to locate its proposed majority farmer-owned 700,000 MT urea fertilizer plant in Belle Plaine, Sask.
After holding discussions with senior representatives from the Government of Saskatchewan over the past two years, Genesis Fertilizers is proceeding to secure land to accommodate the building of this facility. The project also contemplates a network of distribution facilities across the Prairies.
“Farmers across Canada, together with our management team, have been looking for the right opportunity to move this project forward.” Jason Mann, Genesis Fertilizers’ president said in a statement. “The Saskatchewan government’s commitment to creating a competitive business environment with a strong suite of incentives will support the agriculture sector and help this project address the challenge of high fertilizer prices.”
In addition to reducing the net cost farmers pay for their fertilizers, Genesis Fertilizers also intends to mitigate supply issues and help address ongoing food security concerns.
Genesis Fertilizers is currently in the process of raising equity and debt capital to facilitate the engineering and construction of the 700,000 MT urea plant along with six distribution facilities. The estimated $1.7 billion project will, if constructed, generate more than 5,000 man-years of employment during the design and engineer phase combined with the estimated 32-month construction period. The ongoing operations would support over 130 full time jobs when the proposed plant begins producing urea fertilizer.
“The Government of Saskatchewan has made it a priority to create a competitive business environment that supports major projects such as the Genesis Fertilizer urea facility,” says Trade and Export Development Minister Jeremy Harrison. “This new facility near Belle Plaine will undoubtedly benefit the people of Saskatchewan, creating more than 100 jobs and support farmers, producers and related business owners. We look forward to continuing to work with Genesis towards completion of this project.”