WEST TERRE HAUTE, Ind. (WTWO/WAWV)— The U.S. Department of Energy’s Loan Programs Office announced a $1.5 billion loan for Wabash Valley Resources.
The loan is set to help finance the company’s clean ammonia fertilizer plant in West Terre Haute.
According to a press release from the DOE, an idled coal gasification plant will produce 500-thousand metric tons of anhydrous ammonia per year.
Greg Zeller is the vice president of external affairs for Wabash Valley Resources.
He said the new plant will cut down on the need for foreign imports.
“This will be a domestic source of a key nutrient for our corn farmers,” said Zeller. “It really is the basis of a lot of our corn crop as well as ethanol and other things that are derived from it, so it’s very important to have an American, a Midwestern source.”
Zeller said the new plant will be built on the site of an old coal plant and will reuse some of the old facility.
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