Phibro acquires SG Solutions' coal gasification plant

Phibro acquires SG Solutions' coal gasification plant

5:50 AM, 21st May 2016
Phibro acquires SG Solutions' coal gasification plant

STAMFORD, US: Phibro LLC said that its affiliate Philipp Brothers Fertilizer, together with a group of investors have acquired SG Solutions' gasification plant, a clean coal gasification plant located outside of West Terre Haute, Indiana.

The plant recently produced synthetic gas and steam to fuel the adjacent Wabash River combined cycle plant owned by Wabash Valley Power Association. The Phibro Group will repurpose the plant to produce ammonia fertilizer for use in the region.

The Phibro Group plans to invest approximately $450 million into the plant to convert it to produce ammonia and is targeting a mid-2018 completion date.

Following the conversion, the plant will use petroleum coke (petcoke) sourced from Midwest refineries as a feedstock to produce ammonia. Petcoke is more economical than the natural gas many other ammonia plants use as a feedstock and will enable the plant to offer local farmers more affordable fertilizer. The acquisition and conversion of the plant, which had been scheduled to be decommissioned, will not only save existing jobs, but also create roughly 100 permanent local manufacturing jobs.

“This transaction benefits numerous stakeholder groups as it will create and save manufacturing jobs, provide the most affordable fertilizer for farmers in the area and reduce our nation's reliance on imported ammonia fertilizer. We would like to take this opportunity to thank Jay Bartlett, CEO of SG Solutions and Wabash Valley Power Association and his entire team for their support and assistance throughout this process. We look forward to commencing work on this project with our partner Quasar Energy Partners," said Simon Greenshields, president and CEO of Phibro LLC.

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