MITSY - CF Industries sees $2B price tag for planned U.S. blue ammonia plant

CF Industries (NYSE:CF) expects the U.S. plant it plans to build with Mitsui to produce low-carbon ammonia for fuel will cost ~$2B, CEO Tony Will said Thursday, according to Reuters. The companies will share the cost, with CF Industries (CF) owning 52% of the planned joint venture and Mitsui (OTCPK:MITSY) owning the rest. "Given the fact that we generated $2.8B of free cash flow in the last 12 months, [$2B] is imminently affordable and not a crazy amount," Will said about the plant's cost during the fertilizer maker's earnings conference call. The plant is expected to produce 1M-1.4M metric tons/year and will be aimed toward exports, Will said on the call. CF (CF) is scrambling to get fertilizer to U.S. farmers as poor conditions delay spring planting at a time when crop production has rarely been more important: "It is going to be a very tight logistical window... We've had a lot

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CF Industries sees $2B price tag for planned U.S. blue ammonia plant