Construction is ready to begin on the first of seven fertilizer manufacturing plants that will be owned by farmers across Western Canada.
Genesis Grain & Fertilizer, LP (limited partnership), will build the plant $24-million plant at Belle Plaine, Sask.
Genesis is backed Farmers of North America (FNA) and AgraCity Crop & Nutrition (AgraCity).
"Farmers have been deserving of this unique business structure for countless generations," says FNA president James Mann.
"In a matter of 12 months once construction is complete, just over 600 farmers from over 200 Western Canada communities with the vision and confidence to join FNA and AgraCity on this journey, will be the first to directly share in the responsibility and rewards of owning part of a major fertilizer supply and distribution system. A piece of the supply chain they can call their own."
The Western Canadian market is now dominated by Potash Corporation of Saskatchewan, the world’s largest potash mining company, and Agrium, the world’s largest fertilizer retailer, who have announced plans to merge.
The deal has approvals from some countries, but not yet from Canada and the United States governments.