Tag: Arif Habib

Midwest Fertilizer update: EPC, air permits, sukuk, and bonds

Midwest Fertilizer Company continues to juggle progress and setbacks on its $3 billion greenfield nitrogen plant in Indiana, following the December 2016 termination of its EPC contract with ThyssenKrupp. In the last few weeks, we've seen updates on the EPC contract, air permits, debt financing in Pakistan, and the $1.259 billion tax-exempt bond issue in the US.

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Mt Vernon, IN — Midwest Fertilizer

UPDATED: 03/09/2017 — see Change Log

OWNER: Midwest Fertilizer Company LLC (Fatima Group)
PROJECT: Greenfield nitrogen fertilizer complex

SUMMARY STATUS: Planning phase
Little forward progress seen since January 2016, when the EPC contract was awarded - but that was tarnished by a corruption scandal and terminated in December 2016. Construction was supposed to begin in mid-2016 for a 2020 start-up; now hoping for groundbreaking in 2017. Modified air permits will likely be awarded soon, but everything depends on reaching financial close, which now depends on getting a new EPC contract.

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