OCI N.V. (GB:0QGH) has released an update.
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OCI Global has successfully completed the sale of its Clean Ammonia project in Beaumont, Texas to Woodside Energy Group Ltd for USD 2.35 billion, marking a significant move in OCI’s strategy for shareholder value enhancement. The company will oversee the project until its completion, targeting the production of first ammonia by 2025. This transaction is part of OCI’s broader plan to generate USD 11.6 billion in gross cash proceeds from various sales, providing financial flexibility for debt reduction and shareholder returns.
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