Gulf Coast Ammonia LLC said Jan. 8
that its new plant, which is planned for Texas, will have a capacity of 1.3
million mt/y. This is up from earlier filings that had indicated a possible
capacity of 750,000 mt/y (GM Oct. 12,
2018). Plans have been in the works since at least 2015 (GM May 25, 2015).
As earlier reported, GCA says it has closed on nonrecourse project financing for the plant. The company says construction will begin in early 2020 with commissioning expected in the first half of 2023.
CHS Inc., St. Paul, reported a dip in first quarter
income attributable to the cooperative of $177.9 million on revenues of $7.6
billion for the first-quarter ending Nov. 30, 2019, compared to the year-ago
$347.5 million and $8.5 billion.
In its Ag segment, CHS cited decreased fertilizer
volumes due to a slow harvest season versus the year-ago quarter. Income was
off in all three major sectors—Ag, Nitrogen Production and Energy, with Ag posting
a pretax loss of $13.9 million compared
to year-ago income of $80.3 million.
Gulf Coast Ammonia LLC said Jan. 8 that it has closed on nonrecourse project financing for its world-scale anhydrous ammonia plant in Texas on Dec. 30, 2019. Construction capital will be provided by a joint venture of Starwood Energy Group Global LLC and Mabanaft GmbH & Co. KG. The facility will have a production capacity of approximately 1.3 million mt/y.
GCA said construction will begin in early 2020 with
commissioning expected in the first half of 2023.
Eastman Chemical Co.,
Kingsport, Tenn., announced Jan. 8 that it would participate in strategic
project with Gulf Coast Ammonia (GCA) and Air Products Inc. GCA will lease a
portion of Eastman’s Texas City site and will own a new world-scale ammonia
production plant. Air Products will build, own and operate at Eastman’s Texas
City site its largest-ever steam methane reformer, an air separation unit to
supply nitrogen, and a steam turbine generator to supply power and certain
other utilities to operate the new ammonia plant.
The GCA project is being developed by
Agrifos Partners LLC, New York City, and Borealis AG, Vienna, which is involved
in polyolefins, base chemicals and fertilizers (GM Oct. 12, 2018). Initial filings indicate the plant is expected
to produce over 750,000 mt/y.
Anglo American Plc has moved to
buy Sirius Minerals Plc’s giant U.K. potash project, according to a Bloomberg report. Anglo said it’s in advanced
talks with Sirius about a possible 5.5 pence-a-share offer that values the
company at about $508 million. While that’s a premium of 34 percent on Sirius’s
closing share price on Jan. 7, the company was worth more than $2.3 billion 18
months ago, before its funding plans dried up noted Bloomberg.
Sirius’s plans were thrown into
doubt last year after it suspended a bond sale, required to unlock a $2.5
billion credit facility from JPMorgan Chase & Co. The company was forced in
November to scale back its plans, but had also said it was talking with
potential investors or buyers.
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