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CHS Inc. will against moving forward with $3 billion fertilizer plant at N.D.of US
Aug. 14, 2015
CHS Inc.
United StatesFollow
United States
Carl Casale, president and chief executive officer, CHS Inc., recently announced that the company has made a separate decision against moving forward with construction of a proposed fertilizer plant at Spiritwood, N.D.
"we determined that the construction cost, water supply challenges, overall risk profile and time required for theSpiritwood project had changed significantly since it was first considered. As a result, we concluded we couldn't achieve the level of returns needed to justify the increased costs and risks.
Given the dynamic market for nitrogen fertilizer manufacturing and distribution, investing in CF Nitrogen creates access to more immediate benefits to CHS owners and customers than a four-year plant construction window, Casale said.
An investment in CF Nitrogen enables CHS to serve its entire customer base through geographically diversified production and multiple transportation modes – including truck, rail and barge – that leverages the CHS distribution system and risk management expertise, he said.
Source: CHS
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