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Be the first with the news that moves the market- NeuRizer (NRZ) signs a deal with the South Australian Government for the use of existing infrastructure at the site of the NeuRizer Urea Project in South Australia
- The infrastructure utilisation licence agreement will see the company granted the exclusive use of the existing infrastructure at the site, resulting in significant cost savings
- NeuRizer says this opportunity will become part of the front-end design and engineering (FEED) process, which is currently underway with its international partners
- NeuRizer plans to begin upgrades to the existing infrastructure immediately, with maintenance work set to occur parallel to other stage one work
- Company shares dips 3.03 per cent, trading at 16 cents at 12:53 pm AEST
NeuRizer (NRZ) has signed a deal with the South Australian Government for the use of existing infrastructure at the site of the NeuRizer Urea Project in South Australia.
The NeuRizer Urea Project (NRUP) aims to deliver low-cost, high-quality nitrogen-based fertiliser. The NRUP will initially produce one million tonnes per annum of urea fertiliser with potential to increase to two million tonnes per annum.
The infrastructure utilisation licence agreement will see the company granted the exclusive use of the existing infrastructure at the site, resulting in significant cost savings.
The infrastructure licences covers items including a fully serviced administration building, a major 3120 squared metre warehouse and a second maintenance warehouse of 3120 squared metres with a 15 tonne gantry crane. All up, the infrastructure assets have an estimated replacement cost of between $50 million and $70 million.
NRZ Managing Director Phil Staveley said the company is grateful for the continued support of the newly elected State Government in progressing this project of national significance.
“The granting of use of the existing infrastructure on site by the South Australian Government not only leads to great cost and time efficiencies in our construction schedule but also sits directly in line with our mission to minimise our carbon footprint through clever reuse/repurposed/recovery approach by use of on-site energy, feedstock and infrastructure and in the same time minimise the traffic on our roads,” Mr Staveley said.
NeuRizer said this opportunity will become part of the front-end design and engineering (FEED) process, which is currently underway with its international partners.
The company plans to begin upgrades to the existing infrastructure immediately, with maintenance work set to occur parallel to other stage one work.
NRZ shares dipped 3.03 per cent, trading at 16 cents at 12:53 pm AEST.
