Cronus Fertilizers announced important changes to its partnership with thyssenkrupp Industrial Solutions (tkIS) that will enhance the success of Cronus’ proposed Tuscola, Illinois, fertilizer plant. Cronus has extended its fixed price, lump-sum turnkey engineering, procurement and construction (EPC) contract with thyssenkrupp Industrial Solutions (tkIS) through June 30, 2021, and is finalizing an additional operations and maintenance (O&M) agreement with tkIS. Under the terms of the O&M agreement, tkIS will be involved in operating and maintaining the plant once it begins production. Furthermore, tkIS will become a minority shareholder in Cronus Fertilizers LLC.
 
These agreements strengthen the partnership between Cronus Fertilizers and tkIS. The Cronus Fertilizers facility will be one of the largest of its kind in the United States.
 
“thyssenkrupp Industrial Solutions is looking forward to working in partnership with the Cronus team to realize this world-scale ammonia plant,” said Dr. Sami Pelkonen, CEO of tkIS’ Business Unit Chemical & Process Technologies. “Our investment in Cronus Fertilizers demonstrates our commitment to this project and to Cronus' success in particular.”
 
In January 2020, Cronus announced new investment from Keyman-Avunduk Investment Company AG (KAIC), which made KAIC the majority shareholder in Cronus Fertilizers. KAIC has provided financial backing and industry expertise that have helped to advance the project. “We are developing one of the largest fertilizer facilities in the U.S. and bringing together global experts to ensure the highest quality in both the construction and operations of the Cronus plant,” said Melih Keyman, Chairman of Cronus Fertilizers. “We are proud to expand our partnership with tkIS on this important project.”
 
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