Companies to construct Canadian urea nitrogen fertiliser plant
The Indian Farmers Fertiliser Cooperative (IFFCO) Canada and La Coop fédérée, in collaboration with Investissement Québec, have signed an agreement of intent to establish a urea production nitrogen fertiliser plant in Bécancour, Canada.
The $1.2bn investment will facilitate production and marketing of urea fertiliser in the form of nitrogen fertilizers and create around 500 construction jobs and more than 200 post completion local jobs in the region.
IFFCO has selected the Bécancour industrial park site out of 50 plus sites in the North American region because of its strategic location, port accessibility, railway facilities and natural gas pipeline availability.
The possibility of a partnership with La Coop federee, interest of North American agricultural producers in urea farming and the Government of Québec's role have also contributed to the selection of the Canadian site.
IFFCO managing director Dr. U.S. Awasthi said: "This investment allows two large agricultural leaders and, even better, two cooperatives (La Coop federee and IFFCO), from two large agricultural economies, to play a central vital role in a rapidly-changing agricultural industry."
The plant construction is expected to begin in 2014, while the urea marketing is scheduled to begin in 2017, once the various approvals are obtained.
Image: Urea production nitrogen fertiliser plant agreement. Photo courtesy of IFFCO.