Business
Karnalyte Resources Inc. Signs Agreement for Wynyard Carnallite Project Detailed Engineering and Site Preparation
CALGARY, Sept. 6, 2012 /CNW/ - Karnalyte Resources Inc. ("Karnalyte" or the "Corporation") ...
About this update from Karnalyte Resources Inc.
[{"type":"text","content":"\n\n\n\n\n\nCALGARY, Sept. 6, 2012 /CNW/ - Karnalyte Resources Inc. (\"Karnalyte\" or\n the \"Corporation\") (TSX: KRN) today announced that it has entered into\n an Engineering, Procurement and Construction Management (\"EPCM\")\n Services Agreement (the \"Agreement\") with Foster Wheeler Canada Limited\n (\"FWCL\"), whereby FWCL will provide EPCM services for the Wynyard\n Carnallite Project(the \"Project\"). The proposed Project involves the\n construction of a facility that will initially produce 625,000 tonnes\n of potash per year, increasing to 2.125 million tonnes of potash per\n year.\n\n\n\"Karnalyte is proceeding with the Wynyard Carnallite Project and is\n looking forward to continuing our collaboration with Foster Wheeler, a\n world-renowned engineering firm,\" said Robin Phinney, President and CEO\n of Karnalyte Resources Inc. \"Foster Wheeler will help us achieve the\n Project's next major milestones, which include beginning detailed\n engineering work, followed by preparation of the site where Karnalyte\n plans to build its potash production facility.\"\n\n\nUnder the terms of the Agreement, the services to be provided by FWCL\n include:\n\n\nEngineering\n\n\nProcurement\n\n\nConstruction management\n\n\nCommissioning support\n\n\nFoster Wheeler will also coordinate with ERCOSPLAN Ingenieurgesellschaft\n Geotechnik und Bergbau mbH (\"ERCOSPLAN\") of Erfurt Germany which will\n provide engineering, cavern development, mine plan and commissioning\n services for the solution mining of the project. Karnalyte expects to\n commence the site preparation and detailed engineering work in\n September 2012, and continues to pursue financing opportunities to fund\n further advancement of the Project.\n\n\nAbout Foster Wheeler\n\n\nFoster Wheeler Canada Limited is a subsidiary of Foster Wheeler AG,\n which is a global engineering and construction contractor and power\n equipment supplier delivering technically advanced, reliable facilities\n and equipment. The company employs approximately 13,000 talented\n professionals with specialized expertise dedicated to serving its\n clients through one of its two primary business groups. The company's\n Global Engineering and Construction Group designs, engineers and\n constructs leading-edge processing facilities and related\n infrastructure for the upstream oil & g...