North Dakota contemplates $125 million investment in fertilizer project
State legislators in North Dakota are deliberating over a bill that aims to channel a $125 million loan into a fertilizer development initiative. The North Dakota Farmers Union is supporting the venture, which was initially approved as part of the OMB (Office of Management and Budget) bill but later struck down by the State Supreme Court earlier this year.
House Bill 1546 proposes to create a fertilizer development fund with an allocation of up to $125 million. The objective is to construct a plant capable of producing nitrogen either within North Dakota or in neighboring Canada.
Farmers Union representatives indicated that while the plant’s construction is still years away, the facility would bring significant benefits to the agricultural community across the state. “The sooner we can make this resource available, the more it will assist ranchers, farmers, and all users of nitrogen fertilizer,” said Mark Watne, President of the North Dakota Farmers Union.
The bill’s proponents argue that the United States currently relies heavily on fertilizer imports from Russia and China. The proposed plant aims to reduce this dependency by enhancing local production capabilities.