Infrastructure
| Sector | Infrastructure |
| Sub-sector | Midstream |
| Location | United States |
Ammonia is a globally traded commodity critical to the agriculture and manufacturing industries. Most commonly used in the production of fertilizers, it is essential to helping boost crop yield and feeding the world’s growing population. As demand for the chemical continues to rise so will the need for energy and chemical producers to increase output to ultimately help sustain global food supplies.
Macquarie Capital, Agrifos and Mabanaft joined forces to develop Gulf Coast Ammonia (GCA) which, upon completion, will be both the largest single train ammonia loop and largest ammonia storage tank in the world.
Our energy principal team provided fundamental guidance on the commercial structuring of the Texas-based project while sourcing and negotiating key offtake agreements. Through our industry leading infrastructure advisory team, we successfully led the construction equity raise and advised on the debt structuring in a first of its kind transaction for US infrastructure capital.
Outcome
With an estimated production capacity of nearly 1.3 million tons of ammonia per year, Gulf Coast Ammonia is a significant entrant in the market of nitrogen-based fertilizers. The state-of-the-art facility will implement the highest standard in safety and operational efficiency and create more than 1,000 jobs in the local Galveston County at peak construction.
GCA is the first ammonia transaction completed in the US project finance commercial lending market and the first fully non-recourse to the sponsor petrochemical deal financed in the US project finance market. The plant marks a key milestone in the US infrastructure and energy market and will contribute to feeding the world’s growing population.
Proximo
"Macquarie Capital is proud to have contributed its global leading infrastructure development capabilities to the structuring of this unique asset. We look forward to exploring further opportunities in the promising North American petrochemical sector."
Nicholas Gole, Head of Americas Energy Principal Investments at Macquarie Capital
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