NeuRizer (ASX:NRZ) developing its flagship project , producing low-cost nitrogen-based fertiliser for local and export agriculture markets. Located in South Australia, 550 kilometres north of Adelaide, the project will initially produce 1Mtpa (with potential to increase to 2Mtpa) of urea using NeuRizer's 1,153PJ 2P gas reserves. The $2.6 billion project will be one of the biggest infrastructure projects of its type in Australia, providing long term economic development and employment opportunities for the communities of the Upper Spencer Gulf region, northern Flinders Ranges and South Australia. The project will be the only fully integrated urea production facility in Australia, with all inputs for low carbon urea production on-site. Average nominal operating cost are forecast to be $109 per tonne which is within the lowest cost quartile of the global urea production cost curve. Pre-tax leveraged Net Present Value (NPV) is A$3.4 billion, with an Internal Rate of Return (IRR) of 30%.