OKLAHOMA CITY (AP) — An Oklahoma City-based manufacturing, marketing and engineering company has completed the bulk of construction on its ammonia plant in Arkansas and plans to begin production there in the second quarter.
The Oklahoman (https://bit.ly/24a37X6 ) reports that LSB Industries Inc.'s expansion of its El Dorado, Arkansas, plant has cost about $730 million.
The company says it expects to spend an additional $101 million to $125 million to finish pre-commissioning and commissioning processes at the plant.
The company's CEO, Daniel Greenwell, says he doesn't expect the project's cost to surpass the $831 to $855 million budget.
He also says the company believes the ammonia plant will significantly improve the El Dorado facility's financial performance.
The company's stock price increased more than 13 percent Tuesday after the company announced the plant's progress.
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Information from: The Oklahoman, http://www.newsok.com