US 220,000-ton potassium sulfate plant selected for federal funding list

en.Wedoany.com Reported - On October 22, the U.S. Department of Agriculture announced a new batch of fertilizer manufacturing project funding support list, and the potassium sulfate production plant that Intrepid Potash plans to build near Carlsbad, New Mexico, was selected. The project has a proposed total investment of USD 265 million, of which about USD 139 million is proposed to be supported by federal funds, with a planned annual production capacity of about 220,000 tons of potassium sulfate. The project is currently entering the follow-up funding support procedure of the USDA fertilizer manufacturing investment and expansion program.

According to the construction plan, the new plant will specialize in producing potassium sulfate specialty fertilizer. The USDA has included the project in its domestic fertilizer manufacturing capacity expansion program, and the related construction funds consist of proposed federal support and other project investments. The proposed funding amount of USD 139 million accounts for about 52.5% of the project's total investment and is also the largest single proposed federal funding amount among the selected projects in this batch.

This selection involves a total of 8 fertilizer manufacturing projects, with total proposed investment exceeding USD 1.34 billion and proposed federal support funds of about USD 573 million, covering ammonia, urea, potassium sulfate and other fertilizer production facilities. The Intrepid Potash project is the new potassium sulfate plant project among them and will proceed according to the procedures of this funding support program.