OVERLAND PARK, KAN: Compass Minerals has signed a memorandum of understanding with Goderich, Ontario and the Goderich Port Management Corporation for a plan to expand and enhance the town’s port.
“Together we’ve developed a public-private vision to bring new businesses, jobs and opportunities to the Goderich community while providing Sifto with additional storage capacity, particularly during the winter months,” said Rowland Howe, Compass Minerals’ director of corporate engineering, strategic projects and Canada country executive. “We’re excited about what this could mean for the future of Goderich and for Sifto.”
The plan, done through Compass Minerals’ Sifto Canada Corp subsidiary, will use a $15.7-million government of Ontario grant. The plan calls for the creation of new land at the port, which would provide space for more port traffic and would give Sifto additional storage options during the winter when the lake is closed.
“The port expansion would allow us to continue to produce rock salt during the winter months when the port is closed due to ice, giving us more consistent production and employment levels throughout the year and fully leveraging our recent $70-million expansion,” said Howe.
Engineering studies will determine the project’s cost, although the expected price tag sits at $47 million. Along with the Ontario infrastructure improvement grant, port usage fees and funds in the Goderich Port Management Corporation’s major maintenance account would also fund the project.
Sifto’s additional fees, expected to hit roughly $19 million over five-years, will provide Sifto with a renewable, 25-year seasonal lease on the new land. The plan will finalize after environmental assessments, engineering studies and feasibility evaluations wrap up.