BÉCANCOUR, QC, Sept. 30, 2019 /CNW Telbec/ - Today, ProjetBécancour.ag regrets to announce that it has abandoned its project to build an integrated urea and methanol plant in the Bécancour industrial park. This decision was made by mutual agreement between all shareholders and was the only option after negotiation efforts failed to result in an Engineering, Procurement and Construction (EPC) agreement. This type of contract would have allowed us to establish a fixed price and thus reduce risk for developers.
A difficult but responsible decision
The decision was made to protect partners' investments, which included public and agricultural cooperative funds. "We had to make this difficult decision because the selected form of construction contract was impossible to achieve. Despite a proper request for proposals process, the results did not produce a viable option for the project," said Benoît Bessette, spokesperson for ProjetBécancour.ag.
ProjetBécancour.ag is 50% owned by Entreprise IFFCO Canada Ltd (composed of La Coop fédérée and Investissement Québec with minority ownership by IFFCO) and 50% owned by Développement Nauticol Québec Ltd.
For further information: Yvan Martin, [email protected], Tel. : 819-269-3947