26 July 2013 22:21 [Source: ICIS news]
HOUSTON (ICIS)--Cronus Chemicals will make a decision within 30-60 days on whether to select ?xml:namespace>
On Thursday, Illinois Governor Pat Quinn signed an economic bill that will provide an estimated $14.5m (€10.9m) in tax breaks for the fertilizer producer, while
“Getting the governor to sign that bill and getting the incentives passed was critical to putting
“Once they have a strong understanding of what that looks like, and that includes working with contractors and working through various cost expenses, they’ll be making a decision and we will be making an announcement on our site selection," he added.
Delaware-based Cronus has announced plans to construct a $1.1bn fertilizer facility with an anticipated annually production capacity of 800,000 tons/year of ammonia, which would be converted into 1.4m tons of granular urea.
Construction of the plant is expected to take up to 30 months, and currently Cronus has a start date set for early 2016. The facility is expect to create up to 225 full-time jobs when at full capacity and employ between 1,000-2,000 workers for the construction phase.
Cronus Chemicals is headed by veteran fertilizer executive Erzin Atac, the former president of Transammonia Fertilizer, and is owned by Swiss and Turkish investors.
“I can’t say 100% for sure, but I am pretty positive we have built a framework here that makes it almost irresistible for the company when they see the infrastructure there as well as the incentive package that we crafted on their behalf,” said State Representative Adam Brown. “They pretty much outlined exactly what they would need from us, and eventually we met those goals.”
Brown said another advantage for Cronus selecting
($1 = €0.75)
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections