SUMMARY STATUS: Financing phase
In October 2018, Cronus announced that it had awarded an EPC contract, with revised project scope. Awaiting financial close, before construction can begin; no groundbreaking yet. In August 2017, Cronus had also announced a reconfigured project, with a reduced capacity, lower capex, and a more realistic schedule. Also in 2017, its original air permit expired, after many extensions, and Cronus must now apply for and receive a new air permit before construction can begin. This project has been repeatedly postponed over the years.
SUMMARY STATUS: Planning phase
Major setbacks in 2016, when the EPC contract was awarded and then fell apart following a corruption scandal and a failure to secure equity financing. Major setbacks predicted in 2017 and confirmed in 2018, related to debt financing. Air permits were extended in 2017 but any progress now depends on winning a legal argument with the IRS.