The Trump administration said Wednesday it is finalizing a $1.5 billion loan to a chemical manufacturer for the development of a coal-powered fertilizer production plant in Indiana — the second Biden-era loan to be closed under the Trump Energy Department.
The Loan Programs Office said it is providing the loan to Wabash Valley Resources for a coal and ammonia facility, which will include the restart of a shuttered coal gasification plant idled since 2016 to produce ammonia by using coal from a nearby mine and petcoke as feedstock.
The department said the facility will produce 500,000 metric tons of ammonia per year.
DOE said the ammonia fertilizer produced at the Wabash facility will be a “vital” resource for farmers who currently rely on imports.
