US BioNitrogen to issue bonds to develop Louisiana urea plant

17 October 2013 21:25  [Source: ICIS news]

OUSTON (ICIS)--BioNitrogen plans to issue tax-exempt bonds to develop a urea plant in the Pointe Coupee Parish in Louisiana, following a $300m (€219m) allocation it received from a state commission, the fertilizer producer said on Thursday.

The allocation is coming from a $1.25bn bond issued by the Louisiana State Bond Commission, which was finalised in August, to help BioNitrogen build five plants within the region.

BioNitrogen converts biomass into urea through a gasification technology process and catalytic conversion.

Currently the company is designing a similar plant facility for Florida, which should produce 520 tons/day of urea. Officials are anticipating using a similar design for the Pointe Coupee plant.

($1 = €0.74)

By: Mark Milam
+1 713 525 2653

AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly