Gensource Engages World-Class Potash Process Design and Fabrication Companies, Demonstrates Commitment to the Tugaske Project

Gensource Potash Corporation, a fertilizer development company focused on sustainable potash production, announces another milestone for its Tugaske Project – the kick-off of engineering work for the major process equipment package. Gensource has engaged a consortium of world-class potash process design and equipment fabrication companies that will work together to provide a design-supply-commission package for the entire process plant at the Tugaske Project.

As per previous news releases, Gensource has made significant advances in the development and financing of the Tugaske Project. KfW IPEX-Bank and Société Générale, joint lead arrangers for the project debt, are nearing completion of their due diligence process. The total senior debt financing for the project is expected to be supported by export insurance coverage with the German Export Credit Agency, Euler Hermes. To satisfy a significant portion of the German export requirement, Gensource has elected to work with a consortium of three German-based design and equipment fabrication companies: K-UTEC AG Salt Technologies, Koeppern GmbH & Co KG, and Ebner GmbH & Co KG. Individually, these companies represent world-class capabilities in their specific areas of expertise, whether in the design of potash and salt processing plants or the design and fabrication of equipment.