“Project N” Gaining Momentum
There is strong interest in a potential farmer-owned fertilizer plant. Farmers of North America is hosting meetings, talking with producers about the FNA Fertilizer Limited Partnership and “Project N”.
The proposal to build the plant only recently entered the seed capital phase but it has already gained a lot of support from farmers and other contributors.
“We’ve already had just over 900 farmers sign up for the program and contribute their seed capital money,” said Bill Martin, Vice President of Grain Handling, Marketing and Transportation for FNA. “We’ve also obtained the support and assistance of the Bank of Montreal, who have joined us as a financial partner in this overall project.”
Martin says farmers that get involved in “Project N” will have an opportunity to be part of quite possibly the most exciting ag venture in western Canada in 50 years.
“This will have a dramatic impact on farmers’ operating costs by giving them the opportunity to reduce and more properly manage their fertilizer costs, but they’ll also be getting an opportunity to participate as shareholders in what we anticipate will be a quite profitable venture,” he added.
The FNA Fertilizer Limited Partnership is still looking to raise seed capital and hopefully move toward the equity capital phase later this fall, with the plant operational by 2016.
The location of the proposed plant has not yet been disclosed but, Martin says, they believe the location that has been chosen will make many people happy.