Nov 20, 2013 at 9:40 am
A delegation from china spent time in grand forks on Tuesday reviewing plans and specs for a planned one-point-seven billion dollar nitrogen fertilizer plant. Northern plains nitrogen has signed a memorandum of understanding with china-based chengda (shang-da) engineering. Northern plains c-e-o don pottinger says chengda has a lot of expertise and knowledge in building such a plant and is interested in being an investor as well.
Company officials toured the site of the proposed plant west of grand forks and met with local leaders. pottinger says everything is on track to be up and running in 2017 – maybe even sooner.
northern plains will finance the project with one-billion in debt and 700-million in equity investment. pottinger says chengda has the capability of funding much of that debt.