Chemical Week Magazine :: Newsbriefs
Karnalyte announces closing date for GSFC investment
7:10 AM MST | February 15, 2013
Karnalyte (Okotoks, AB) will receive an investment of about $45 million from Gujarat State Fertilizers & Chemicals (GSFC; Vadodara, India) for the development of Karnalyteâ€™s potash project at Wynyard, SK, Karnalyte has announced. The closing date for the investment is anticipated to be about 22 February. GSFC, as part of the deal, will also sign a committed offtake agreement for the sale and purchase of approximately 350,000 m.t./year of potash from the projectâ€™s phase 1, increasing to 600,000 m.t./year with the commencement of phase 2. Karnalyte...
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