Canadian Pacific, Canpotex Reach Long-Term Agreement

(Photo courtesy Canadian Pacific)

Canadian Pacific Railway has reached a new long-term agreement with Canpotex Limited.

The deal, officials say, further cementing the long-standing relationship between the two companies and supporting Canpotex’s future growth.

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.

“We are pleased to have entered into this agreement and incredibly proud to continue our successful relationship with Canpotex,” Keith Creel, CP President and CEO, said in a news release. “Canpotex and CP are like-minded organizations, focused on asset utilization 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.

“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,” Gord McKenzie, Canpotex President and CEO, said in a news release.

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