CHICAGO--(BUSINESS WIRE)--Cronus Fertilizers announced today that it has signed an agreement with Thyssenkrupp Industrial Solutions (TKIS), one of the world’s leading fertilizer plant technology and construction companies, to serve as its new engineering, procurement and construction (EPC) contractor for its Tuscola, Illinois fertilizer plant. This agreement will enable the companies to execute an EPC contract on a fixed price, lump-sum turnkey basis, and puts the proposed Cronus Fertilizers plant on track to start construction in 2018.
Following an extensive process, Cronus made changes to the project and replaced its EPC contractor in order to ensure the project is consistent with the current needs of the market. While the overall size of the project is unchanged, the revised plant design will focus more on ammonia production and on-site delivery than originally anticipated. Executing a fixed price, lump-sum turnkey contract with TKIS will provide Cronus with financial certainty as it continues driving the project forward.
Cronus has also extended the option agreement with the Urbana and Champaign Sanitary District (UCSD) for the procurement of effluent water for 25 years and has extended the land options for the facility and water pipeline. The pipeline will carry treated wastewater to be used by the Cronus plant.
“With this agreement in place, project development will now accelerate,” said Erzin Atac, CEO of Cronus Chemicals. “Thyssenkrupp Industrial Solutions, a Fortune Global 500 company, is the leading builder of fertilizer projects and will be involved in every aspect of constructing this state-of-the-art facility.”
State Senator Chapin Rose (R-Mahomet) has championed the plant for years, with an eye on creating good-paying construction jobs and long-term careers once the plant is open. “I am very excited and look forward to breaking ground. Cronus Fertilizers will be a great economic ‘shot in the arm’ for the entire region,” he said.
The Cronus plant will be a major new source of fertilizer for farmers, now with the capacity to produce 2,300 metric tons per day of ammonia and up to 2,000 metric tons per day of granular urea. The plant’s strategic location will benefit Illinois and area farmers by producing fertilizer locally that can be delivered via pipeline or truck, replacing the need for imported products.
About Cronus Fertilizers
Cronus Fertilizers is a project of Cronus Chemicals, LLC. Cronus Fertilizers works to provide high-quality, locally produced fertilizers for Midwestern farmers, while reducing reliance on imported nitrogen products. Cronus Chemicals, LLC was formed by a highly accomplished team of executives with decades of experience in the development, manufacturing and marketing of fertilizer products. www.cronuschem.com
