ATOME PLC (AIM:ATOM) has taken out an option on land next to its planned Villeta green fertiliser production facility in Paraguay that could expand the site area by almost 50%.
The 13 hectares (32 acres) of land under option sits immediately next to Villeta and would increase the total site to 43 hectares (106 acres) of contiguous property.
Acquiring the land provides additional flexibility and greater logistic efficiency as Villeta moves the construction phase, added the statement.
The option runs until 31 May 2025 to provide time for due diligence, it added, with funding to come from its own resources.
ATOME recently announced it was in talks with IDB Invest, the investment arm of the Inter-American Development Bank, over US$200 million of debt funding for the Villeta Project.
That money would fund the construction of a plant to produce around 260,000 tonnes of green fertiliser annually.