ATOME PLC (AIM:ATOM) has provided investors with an update on progress at its Villeta low-carbon fertiliser project in Paraguay.
The company is developing a 260,000 tonne-per-year plant, with an estimated total project cost of around US$630 million.
ATOME said finalisation of the definitive project financing documentation is continuing with key stakeholders.
Negotiations on lender documentation are now at a mature stage, it added.
The company said its current focus is on resolving outstanding points linked to the equity consortium documentation and related logistics.
ATOME said it is now targeting Final Investment Decision to be achieved around the end of February.
"Progress continues to be made and the company is now targeting FID to be achieved around the end of February 2026. This reflects the ongoing substantial workstreams associated with the completion of such a complex US$650 million, first-of-a-kind project finance," Atome told investors.
"ATOME and its project partners remain fully aligned on achieving FID at the Villeta Project as soon as possible."
Further announcements are expected in due course.