US Rentech sells site it had intended for synthetic fuels plant

19 August 2013 14:01  [Source: ICIS news]

HOUSTON (ICIS)--Rentech has sold a site on which it once intended to build a synthetic fuels plant in Natchez, Mississippi, the US-based fertilizer producer said on Monday.

It sold the site to Adams County for $9m (€7m), Mississippi, it said.

Rentech had bought the 450 acre (182 ha) site in 2008, where it had initially planned to build a $3bn-3.5bn fuel and chemical plant, using petroleum coke and biomass as a feedstock.

Had Rentech built the plant, it would have initially produced 25,000 bbl/day of synthetic fuels and specialty chemicals. The plant ultimately could produce 50,000 bbl/day.

In a statement, CEO Hunt Ramsbottom said, “The sale of the Natchez site is consistent with our stated intention to dispose of our non-core alternative energy-related assets.”

He added, “We remain focused on the significant opportunities within our newly launched wood fibre processing business as well as growth in our nitrogen fertilizer business.”

Earlier this year, Rentech said it planned to close its research and product demonstration unit in Commerce City, Colorado. The unit focused on alternative energy and technology.

($1 = €0.75)

By: Al Greenwood
+1 713 525 2645

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