CHICAGO: Fertiliser maker CF Industries Holdings expects a roughly US$2 billion price tag for a US plant it plans to build with Mitsui & Co to produce low-carbon ammonia for fuel, Chief Executive Tony Will said on Thursday .The companies will share the cost, with CF Industries owning 52 per cent of the intended joint venture and Mitsui owning the rest.
"Given the fact that we generated US$2.8 billion of free cash flow in the last 12 months, it's imminently affordable and not a crazy amount," Will told analysts about the plant's cost. The plant is expected to produce about 1 million to 1.4 million tonnes a year and will be aimed toward exports, Will said on the call.
CF Industries plans to oversee plant operations, while Mitsui will handle marketing and distribution into Asia.
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