CF Industries starts Blue Point blue ammonia construction after Q2 profit nearly doubles to $727 million

CF Industries has begun construction on its Blue Point One low-carbon ammonia facility in Modeste, Louisiana, after securing all required permits from the state and the U.S. Army Corps of Engineers in July. The company disclosed the milestone alongside second-quarter results showing net earnings of $727 million, nearly double the year-ago period, on revenue of $2.22 billion.

Blue Point One is a joint venture in which CF Industries holds a 40% stake, with Japanese partners JERA (35%) and Mitsui (25%). Total project investment is approximately $4 billion, with CF Industries contributing roughly $2 billion. The facility will use autothermal reforming to produce ammonia with carbon dioxide capture and compression, and is targeted to begin operations in 2029. CF Industries will build scalable shared infrastructure including storage and vessel loading facilities at the site.

For the first half of 2026, the company reported adjusted EBITDA of $2.18 billion and operated at approximately 98% of available ammonia capacity. Management raised its mid-cycle EBITDA target to $3.3 billion by 2030 and increased the quarterly dividend 20% to $0.60 per share. Average selling prices rose across all nitrogen product segments due to what CF described as a tight global supply-demand balance further constrained by the Iran conflict.