German fertiliser giant in 2.4-bln-euro Canada investment
K+S, one of the world's leading makers of fertilisers, said on Tuesday it planned to invest 3.25 billion Canadian dollars (2.4 billion euros) in the expansion of its potash activities in Canada.
The German firm said in a statement that its supervisory board had approved plans for a greenfield potash project in Saskatchewan, which would start production in 2015.
The project was subsequently expected to reach total annual capacity of 2.86 million tonnes of potassium chloride by 2023.
It was "a significant step towards the expansion of our potash capacities and enables us to participate in the growth of the global potash market," said chief executive Norbert Steiner.
© 2011 AFP