Linde (NASDAQ:LIN) is one of the best basic materials stocks to invest in. On June 23, Linde announced a new long-term agreement with Blue Point Number One, which is a joint venture comprising CF Industries, JERA, and Mitsui & Co. Under this agreement, Linde will supply industrial gases to Blue Point’s low-carbon ammonia plant, which will have a capacity of 1.4 million metric tons, located in Ascension Parish, Louisiana.

This facility is anticipated to be one of the largest low-carbon ammonia projects globally. The ASU (air separation unit) will provide oxygen and nitrogen to the Blue Point project. Linde’s investment in this new on-site plant is expected to exceed $400 million, with a projected start-up in 2029.Linde Secures $400M Contract to Supply Industrial Gases to Blue Point's World-Scale Low-Carbon Ammonia Plant in Louisiana

An industrial facility emitting natural gas from large pipes, with workers in the foreground.

This new facility will become the largest ASU in the Mississippi River corridor of southeast Louisiana, further strengthening Linde’s extensive US Gulf Coast infrastructure, which already includes multiple industrial gases production facilities and hydrogen & syngas infrastructure in the area.

Linde (NASDAQ:LIN) is an industrial gas company with operations in the US, China, Germany, the UK, Australia, Mexico, Brazil, and internationally.

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Disclosure: None. This article is originally published at Insider Monkey.

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