Canadian Pacific Railway Limited (CP) has announced the execution of a new long-term agreement with Canpotex Limited further cementing the long-standing relationship between the two companies and supporting Canpotex's future growth.
“We are pleased to have entered into this agreement and incredibly proud to continue our successful relationship with Canpotex,” said Keith Creel, CP President and CEO. “Canpotex and CP are like-minded organisations, focused on asset utilisation and efficiency. This long-standing relationship makes sense for us both. We look forward to the opportunity to continue serving Canpotex and supporting growth.”
CP is the primary rail transportation provider supporting delivery of Canadian potash to Canpotex's overseas export markets.
The new seven-year contract, which runs through 2028, is a successor to the current, 10-year agreement between CP and Canpotex, which expires in 2022.
“This new agreement will extend our long-standing relationship with CP, and will provide the safe and efficient rail service we depend on to reliably reach our customers in overseas markets,” said Gord McKenzie, Canpotex President and CEO.
As a leading carrier for export potash, CP allows Canpotex's supply chain to be optimised efficiently and safely from mine to port terminals by leveraging CP's service options and network capacity.