OCI Global has announced the successful closing of the divestment of its Clean Ammonia project in Beaumont, Texas to Woodside Energy Group.
OCI will continue to manage the construction, commissioning, and startup of the facility through provisional acceptance and is targeting production of first ammonia from 2025 and lower carbon ammonia from 2026.
The Clean Ammonia closing marks a significant milestone in OCI’s strategic value creation journey.
Nassef Sawiris, executive chairman of OCI, said: “The successful closing of the Clean Ammonia transaction further reinforces OCI’s serial commitment to creating value for its shareholders and exemplifies its pioneering spirit.
“Looking ahead, we will continue to explore value accretive investment opportunities where we can successfully deploy our extensive knowledge, deep operational expertise, and entrepreneurial heritage.”
OCI Global completes sale of Clean Ammonia to Woodside
