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Rentech Nitrogen Partners, L.P. (NYSE:RNF) announced today the completion of repairs to the foundation of one of the four syngas compressors at the East Dubuque Facility. With the completion of the repairs and the ammonia expansion project, the facility is now producing ammonia at a steady rate of approximately 1,020 tons per day, compared to approximately 830 tons per day before the expansion project. The repairs were completed approximately one week ahead of schedule. The costs of the repairs were below our previously announced cost estimate of $2 million.
The expanded production rate is a result of the successful completion of the ammonia capacity expansion project in December 2013, which is also estimated to have been completed below our previously forecasted cost estimate of approximately $100 million. The ammonia capacity expansion project included the installation of a 20,000 ton ammonia storage tank, bringing on-site ammonia storage capacity to 60,000 tons. The Partnership will provide the final costs of both projects when all project costs have been accounted for and finalized.
About Rentech Nitrogen, L.P.
Rentech Nitrogen (
www.rentechnitrogen.com) was formed by Rentech, Inc. to own, operate and expand its nitrogen fertilizer business. Rentech Nitrogen’s assets consist of two fertilizer production facilities owned by its operating subsidiaries. The East Dubuque Facility is located in the northwestern corner of Illinois, and uses natural gas as a feedstock to produce primarily anhydrous ammonia and UAN solution for sale to customers in the Mid Corn Belt. The Pasadena Facility is located in Pasadena, Texas, along the Houston Ship Channel, and uses ammonia and sulfur as feedstocks to produce ammonium sulfate and ammonium thiosulfate fertilizers, and sulfuric acid. Rentech Nitrogen is the largest producer of synthetic granulated ammonium sulfate fertilizer in North America, with sales in the United States and internationally.
This press release contains forward-looking statements about matters such as future production rates and cost estimates. These statements are based on management’s current expectations and actual results may differ materially as a result of various risks and uncertainties. Other factors that could cause actual results to differ from those reflected in the forward-looking statements are set forth in Rentech Nitrogen’s prior press releases and periodic public filings with the Securities and Exchange Commission, which are available via Rentech Nitrogen’s website at
www.rentechnitrogen.com. The forward-looking statements in this press release are made as of the date of this press release and Rentech Nitrogen does not undertake to revise or update these forward-looking statements, except to the extent that it is required to do so under applicable law.