04:28 AM EDT, 04/18/2024 (MT Newswires) -- CF Industries ( CF ) , an ammonia producer, and Japanese energy firm JERA unveiled an agreement late Wednesday to explore the development of greenfield low-carbon ammonia production capacity.

The companies plans to evaluate a joint venture agreement to build a plant at CF Industries' ( CF ) Blue Point Complex in Louisiana with a 1.4 million metric ton capacity.

JERA is considering a 48% ownership stake in the project and an agreement to procure more than 500,000 metric tons annually.

The two companies aim to reach a final investment decision within a year to commence production in 2028.