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CF Industries Announces Capacity Expansions

Stocks in this article: CF

The expansion of CF Industries’ capacity, at these locations in particular, allows the company to take further advantage of the global cost advantage of North American natural gas. Donaldsonville is served by five natural gas pipelines at essentially Henry Hub economics and Port Neal is well positioned to access existing gas supply from the Rockies, Mid-Continent U.S. and Canada, and the increasing supply expected to come from the Williston Basin.

CF Industries has executed engineering and procurement services contracts with ThyssenKrupp Uhde, which was selected based on the quality and integrity of the nitrogen plants they have built around the world. Front end engineering design studies for the Donaldsonville urea/UAN plants and the Port Neal urea plant have been completed. All of the major production units are of recent designs that have been installed successfully at other sites around the world. Permit applications for the Donaldsonville project and orders for some of the major equipment for both projects will be submitted by the end of this month. Permit applications for the Port Neal project will be submitted as soon as possible.

“We are pleased to have ThyssenKrupp Uhde as our technical partner in executing these projects,” stated W. Anthony Will, senior vice president of manufacturing and distribution. “We have completed a significant amount of engineering and design work with them, and the rigor of that work along with bids we have received from several construction firms give us confidence in our project cost estimates and timelines. Based upon detailed project cost analyses and price quotes from equipment providers and construction firms, we concluded that brownfield construction of new ammonia and upgraded product plants is a cost-effective means to expand CF Industries’ production capacity, yielding attractive returns for our shareholders.”

CF Industries noted that it has expectations for continued solid cash flow, a strong balance sheet, investment grade credit ratings and ready access to the debt financing markets that will allow it to fund these projects and its other long-term initiatives.

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