Tuesday, October 14, 2014
Potash producers to make $140M investment in Port of Portland
Canpotex, a joint venture of three Saskatchewan potash producers, will invest up to $140 million to enhance its processing and export operations near Terminal 5 at the Port of Portland.
The venture, known as Portland Bulk Terminals, will construct a new building, add a ship loader, and improve its conveyer system at the site, located within an expanded enterprise zone. Qualified businesses that invest in enterprise zones are exempted from many local taxes, including property taxes.
Canpotex said it would increase the tonnage of potash it exports through Portland "incrementally" in coming years, according to a joint statement with the Port of Portland.
More than 2 million tons of Saskatchewan potash, a soil nutrient used in fertilizers, transits the Port of Portland each year on its way to Pacific Rim and Brazil markets, the port said.
For more of the Oregon Live story: www.oregonlive.com
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