A business and market analysis looking at the viability of a new Nitrogen fertilizer plant is now complete.
Farmers of North America spokesman Bob Friesen says they have set up a Fertilizer Limited Partnership that will provide farmers the opportunity to own the proposed facility. He says the business case is compelling for a new fertilizer plant since North America imports seven million tons of fertilizer a year.
"This is about getting farmers into the development chain, and to share some of the profits we know that are there to be had, so we're facilitating an opportunity for farmers to invest in fertilizer manufacturing," Friesen said.
He adds farmers can get involved now by investing seed capital and, if there's enough interest, they would like to begin raising equity capital later on in the fall with plans to have the plant operational in 2016, or sometime the following year.
"Our target is to sell 1,000 seed capital units at $1,000 each, so that comes to about $1 million to continue with project development," Friesen added. "It should also be said that farmers that do step up to the plate immediately and purchase seed capital units will also get preferential treatment when it comes to raising the equity capital."
More information is available online at projectN.ca.