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People & Business :: Earnings/Finance

K+S increases budget for Canadian potash project

10:50 AM MDT | April 29, 2013 | —Lindsay Frost

K+S has raised the planned capital expenditure for its potash project near Moose Jaw, SK, by roughly a third, to C$4.1 billion ($3.9 billion), reflecting higher costs for infrastructure investments, modifications of plant components, and increased material and labor costs, the company says. The increase was approved after a basic engineering and cost analysis of the major subprojects was completed. The previous estimate of $C3.25 billion was based on a feasibility study conducted in November 2011, the company says. “The additional findings strengthen the...

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