Northern Plains Nitrogen is now offering farmers and others the opportunity to invest directly in the proposed $1.7 billion fertilizer manufacturing plant to be located in Grand Forks, N.D.
The plant, which organizers hope will begin operation in 2017, will make fertilizer out of natural gas.
“We are very excited to announce that farmers, and others have the opportunity to invest directly in this project,” says Darin Anderson, chairman of Northern Plains Nitrogen board of directors and president of the North Dakota Corn Growers Association.
North Dakota is unique in that it is one of the few places worldwide to have millions of acres of farmland next to rich deposits of oil and natural gas, making it the perfect location for the new facility, he says.
The recent increase in corn and canola production, coupled with the fact that new varieties of wheat require a higher quantity of nitrogen, illustrates the steadily increasing demand for nitrogen, he says.
Currently more than 50% of nitrogen used domestically in the U.S. imported from foreign plants located in Trinidad, Canada, Russia and The Middle East.
Because it will be located in a region that uses a lot of fertilizer, Northern Plains Nitrogen has the advantage over foreign suppliers by being able to offer nitrogen-based products to local growers and ag producers without the expanded transportation costs, Anderson says.
The proposed plant will have the capacity to produce approximately 2,400 tons of ammonia per day, which will be converted to additional products.
Shares are available to accredited investors. Consult your accountant or financial professional for accreditation requirements.
Visit northernplainsnitrogen.com for details.