Mosaic Won’t Build St James Parish Ammonia Plant

ST. JAMES, La. (AP) — Mosaic Co. won't be adding a $700 million ammonia plant to its phosphate facility in St. James Parish. Instead, it will buy 600,000 to 800,000 tons of ammonia a year from the CF Industries Holdings Inc. plant in Donaldsonville.

The 15-year contract, announced Monday, is to start by 2017.

The companies say it's part of a $1.4 billion deal for Mosaic to buy CF Industries' phosphate business.

Mosaic said cancelling the construction project will save about $1.1 billion in future capital spending.

The economic development organization Greater New Orleans Inc. said in December that the proposed ammonia plant would create about 1,400 construction jobs and 53 permanent jobs paying an average of $83,000 a year plus benefits.