The Canadian International Development Agency (CIDA) says it will purchase $4.6 million worth of potash fertilizer from Saskatoon-based Canpotex for delivery to China. Canpotex handles offshore sales for six Saskatchewan potash producers including Potash Corp. of Saskatchewan (TSE), the world’s largest private potash producer.
The potash will be shipped to Sinochem, the Chinese government’s purchasing agent, for sales within the country. The sale proceeds will go into two counterpart funds to pay for development assistance projects in China.
One fund will support poverty alleviation projects in Xiji County in the Ningxia Autonomous Region. The other counterpart fund will be used to purchase equipment for three hospitals. N21
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