Site picked for $950M fertilizer plant

ROCKPORT, Ind. (AP) - A businessman has picked a southern Indiana site for a nitrogen fertilizer plant that's projected to cost about $950 million to build.

Ohio Valley Resources president Doug Wilson of Fairfield, Ill., says he picked the 150-acre site near the Ohio River town of Rockport. Wilson tells the Evansville Courier & Press that two nearby interstate natural gas pipelines will reduce the cost of obtaining the gas needed for nitrogen production.

Wilson says construction should take three years, with completion expected in 2016. About 80 people are expected work at the plant after production starts.

Wilson tells The Indianapolis Star he's still completing financing for the project. Wilson says this is his first industrial project after working as an independent trader for 16 years at the Chicago Board of Trade.