In Florida, BioNitrogen has purchased approximately 600 acres of land in Hardee County, Florida, for $9.7 million. The total acreage includes the 40 acres of land BioNitrogen acquired previously in September 2012. The purchase was financed by an $8 million mortgage note and $1.7 million in common stock warrants. The land will be used to start construction of their plant in early 2013, and is expected to produce 124,200 TPA of urea fertilizer.
More background on the story from the Digest
Category: Chems & Materials