Weak Market Put Quebec Fertilizer Plant on Hold

News1130 reported that the development of a large urea fertilizer plant has been shelved due to poor economic conditions. This comes six months after a suspension was lifted.
According to the report:

Indian Farmers Fertilizer Co-operative (IFFCO) and the Quebec agricultural co-operative La Coop federee said Monday the project in Becancour isn’t dead, but it can’t restart until market conditions recover, allowing partners to obtain required financing.

Claude Lafleur the director general at IFFCO Canada stated:

We are waiting for the cyclical low point in the price of urea to end, which we expect will allow resumption of the project.

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