ATOME PLC (AIM:ATOM) told investors that financing negotiations for its flagship Villeta low-carbon fertiliser project in Paraguay are continuing, with a further update expected in March.
In a short statement, the AIM-listed developer said detailed talks remain under way and that all stakeholders are “actively working very hard” as it progresses toward a project funding package.
Villeta is designed as a 260,000 tonnes-per-year low-carbon fertiliser facility, which ATOME has previously estimated will cost about US$630 million to build. The company has framed the process as a complex, first-of-a-kind project finance, with multiple workstreams needing to be closed out ahead of a Final Investment Decision.
ATOME has previously highlighted key building blocks it says underpin the project, including a 10-year offtake agreement with Yara International, a US$465 million fixed-price EPC contract with Casale and a 145MW renewable power purchase agreement.
The site covers around 30 hectares in a tax-free zone, with an option over adjacent land.