Thursday, June 04, 2009

Another Ridley project hits the slow switch

“We’re not going to build a facility to have it sit empty for months.” -- Canpotex spokesperson John Summers, outlining the latest change of plans for the development of a potash terminal on Ridley Island.

The changing economic uncertainty has changed the demand for Canpotex's product line and with that development, space has cleared up at the company's Vancouver terminal. The result of which means that there will apparently be a change to the schedule of the construction of a terminal on Ridley Island.

Canpotex outlined its changing timeline to the Northern View on Wednesday, stating that they are still dedicated to the prospect of a terminal in Prince Rupert, just not as planned for a 2012 opening.

Explaining that they are going to a "phased" approach to the development, Canpotex is clearly planning on slowing down the development plans for the 250 million dollar terminal, mindful that in a world economy that has slowed as it has, the demand for their product has slowed as well.

The original plan was to expand the Vancouver terminal and construct a new one in Prince Rupert, however it seems to be an either one or the other prospect for the near future as Canpotex examines its options and heads towards a September decision as to which of those projects they will continue on with first.

Rupertites will have to wait through the summer now, keeping an eye on the financial pages to see how the economic situation is changing and what Canptoex's intentions to the community will be. Mindful of past history and waiting to see if the proposed Canpotex terminal in Rupert joins the many other past projects that didn't quite turn out as originally announced.
Past Podunkian items on Canpotex:

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