The chemical sector saw several notable moves this week, with Evonik expanding catalyst capacity in Asia, Cronus Chemicals planning a $2 billion fertilizer plant in Illinois, and BASF and Yara ending a joint low-carbon ammonia project on the U.S. Gulf Coast. The announcements reflect both growth ambitions and portfolio adjustments as companies respond to market demand and sustainability pressures.
Evonik Opens Alkoxides Plant in Singapore
Evonik has opened a new alkoxides production facility on Jurong Island, Singapore, expanding its global catalyst manufacturing network. First announced in May 2023, the plant is designed to meet growing demand in Asia for alkoxides used in biodiesel, pharmaceuticals and chemical recycling, the company said. The site is capable of operating with net-zero Scope 1 and 2 carbon emissions and is intended to improve supply reliability in Southeast Asia.
Cronus Chemicals to Build $2 Billion Fertilizer Plant in Illinois
The Illinois Department of Commerce and Economic Opportunity announced Aug. 26 that Cronus Chemicals LLC plans to invest $2 billion in a new fertilizer production plant in Tuscola, Illinois. The plant reportedly will have the capacity to produce 950,000 short tons of ammonia per year, supported by carbon capture and storage systems designed to trap up to 90% of carbon dioxide emissions. The facility is expected to create 130 permanent jobs.
BASF and Yara End Joint Project for Low-Carbon Ammonia Facility
BASF and Yara International have decided to end their joint project to develop a low-carbon ammonia production plant with carbon capture and storage on the U.S. Gulf Coast. The companies said the decision reflects a shift in priorities toward other initiatives with higher potential to meet their value creation goals. Yara will continue to evaluate equity investment opportunities in U.S. ammonia projects as part of its broader ammonia strategy.
