German Trader Major Investor, Offtake Player in GCA
German trading firm Mabanaft GmbH & Co. KG, Hamberg, is both a major investor and offtake player in Gulf Coast Ammonia LLC’s planned 1.3 million mt/y ammonia plant to be built in Texas City, Texas. Mabanaft said Jan. 9 that it has an offtake agreement for some 500,000 mt/y of the capacity, which it plans to market. Other offtake players have not been announced.
Both Manbanaft and an affiliate of Starwood Energy Group Global LLC are now in charge at GCA, which was initiated some five years ago by Agrifos Partners LLC, New York City and Borealis AG, Vienna. Borealis is reported to have bowed out of the project within the past few years as the other players came on board.