Agency to Sign Fertilizer Plant LetterPosted: Updated:
The Posey County Economic Development Partnership will formally sign an offer letter Thursday in support of a proposed multi-billion dollar project. Midwest Fertilizer Corp. plans to build a $2.1 billion plant in the area and create approximately 200 jobs. In May, Governor Mike Pence announced Indiana would withdraw state incentives for the project. Officials initially suspended support in February after learning Pakistan-based Fatima Group, which owns nearly half of the company, had not fully cooperated with a U.S. operation to eliminate improvised explosive devices in Asia.
Economic Development Coalition of Southwest Indiana Chief Executive Officer Greg Wathen said in June that, despite the lack of state participation, public support for the project remained "quite strong."
At the time, Wathen told Inside INdiana Business investors in the project would not be "purely Pakistani." He said Fatima Group would own up to 48 percent of the project, with the remainder of the ownership being a "who's who" of international investors.
Sources: Posey County Economic Development Partnership, Inside INdiana Business