Canpotex to Develop New Railcar Maintenance and Staging Facility

SASKATOON, April 19 /PRNewswire/ – Canpotex Limited (Canpotex) is pleased to
announce plans that it will develop a state-of-the-art Railcar
Maintenance and Staging Facility in Saskatchewan.

Located approximately 12 kilometres southwest of Lanigan in the Rural
Municipality of Usborne, the project is estimated to cost CDN $55
million and will create approximately 40 jobs during construction and
20 jobs once operational.

Project feasibility studies were initiated in 2008 and environmental
permitting, preliminary site preparation and final engineering design
activities are nearing completion.  The facility is designed to provide
all-weather inspection and light repair, automated railcar wash and
wheel maintenance services for Canpotex’s current fleet of 5,000
railcars. Construction is expected to commence in May, 2011 and
scheduled for completion by fall, 2012.

This new facility is part of a logistics’ strategy initiated in 1996
when Canpotex partnered with National Steel Car Limited of Hamilton,
Ontario to build the world’s first railcar designed specifically to
carry potash. The new railcar design combined with greater load
capacity allows Canpotex to operate longer trains that carry more
potash. By exclusively running longer trains, Canpotex is one of the
first Canadian shippers to support the railways’ move towards a ‘hook
and haul’ operating system.

“The movement of our potash from Saskatchewan to our export terminals on
the West Coast, covering a distance of over 1,600 kilometres through
rugged terrain and severe climate changes, is the life-line of our
logistics. This new facility will provide greater control over railcar
maintenance, thereby enhancing the performance of our railcar fleet. It
will also improve the efficiency of the overall rail corridor,
benefiting shippers, railways and port jurisdictions throughout Western
Canada,” stated Mr. Steve Dechka, Canpotex’s President and Chief
Executive Officer.

Operating continuously since 1972, Canpotex is the exclusive offshore
marketing company owned by the three Saskatchewan potash producing
companies: Agrium Inc. (TSX and NYSE: AGU), Mosaic Canada Crop
Nutrition, LP, a subsidiary of The Mosaic Company (NYSE: MOS), and
Potash Corporation of Saskatchewan Inc. (TSX and NYSE: POT).

SOURCE Canpotex Limited