I'm calling it quits for one of the major nitrogen greenfields in the US.
One project falls, another steps up
Local newspapers reported two pieces of very interesting news at the end of last week, regarding the pipeline of proposed ammonia plants in the US.
Magnida air permit issued
Idaho DEQ issued the air permit to Magnida yesterday, for its greenfield plant in American Falls, ID.
They estimate total costs of $1.5 billion (although they’re still awaiting bids from KBR and Bechtel), with a capital structure of one third equity to two thirds debt. They say they already have the $500 million equity … Read more
American Falls, ID — Magnida
UPDATED: 05/01/2017 — see Change Log
OWNER: Magnida (Magnolia Nitrogen Idaho LLC / Egypt Kuwait Holding Company)
PROJECT: Greenfield nitrogen fertilizer plant
In September 2016, local news reports implied that Magnida was winding down. The project was first announced in 2013, as a revitalized fertilizer version of a power plant initially proposed in 2005. Magnida's equity was originally committed in full, but became uncertain when costs escalated and the project met with resistance, finally the sponsor pulled out and new equity partners could not be found.