Omnia says that its recent rights offer of 1 billion Rand ($140 million) was 100% oversubscribed. The proceeds will be used for the construction of a 1.4 billion Rand ($200 million) nitric acid and ammonium nitrate complex and associated facilities in Sasolburg. The facility will be the first nitric acid plant to be built in South Africa since 1984, and will sit adjacent to Omnia's existing nitric acid and AN/CAN production facilities, which have capacity to produce 48,000 t/a of explosive/industrial grade AN and 200,000 t/a of CAN.
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