Explosives and fertiliser supplier Incitec Pivot Ltd (ASX:IPL) says construction of its $935 million ammonium nitrate manufacturing complex at Moranbah in central Queensland is to recommence in May this year.
In February last year the company announced that the project would be slowed due to the outlook for ammonium nitrate demand in the midst of the global financial crisis.
Incitec says the plant is around 35% complete and is scheduled to begin operating in the first quarter of calendar 2012.
The project, which is expected to be completed within the previously announced budget of $935 million, will produce 330,000 tonnes of ammonium nitrate a year.
Incitec Pivot posted a loss of $179.9 million for the 12 months to September 30, 2009.