- Yara Clean Ammonia, a Yara International ASA JARIY companies and Enbridge Inc. ENB have signed a letter of intent to work together as equal partners in the design and construction of a global low-carbon blue ammonia production facility.
- The total project investment is expected to be US$2.6-2.9 billion with start of production in 2027/2028.
- The proposed facility will be located at the Enbridge Ingleside Energy Center (EIEC) near Corpus Christi, Texas and will be capable of supplying low-carbon ammonia to meet growing global demand with an expected capacity of 1.2 to 1. 4 million tons per year to cover.
- In addition, Yara is expected to commission full acceptance of the facility, further enhancing the strategic value and commercial viability of the project.
- Also read: According to Credit Suisse, Enbridge is well positioned with a somewhat dichotomous deal
- Enbridge’s Texas Eastern Transmission Pipeline is expected to provide transportation service for feed gas used in the production process.
- Price promotion: ENB shares closed up 0.67% at $38.09 on Thursday.
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
[ad_2]
Source story
