Work is to start immediately on clearing a site in Amory, America, for a new bio-refinery for Southern Ethanol.
The company has bought the 156 acre site for $472,000 and says it’s at ‘third base’ with plans to invest $85 million in a bio-refinery. Construction of the refinery may begin in about two months if financing on the project closes. Engineering has already begun.
The plant will take around a year to construct and the company is aiming to begin production by late 2006.
Loans have been agreed and the company is optimistic final financing can be arranged with the current upturn in the ethanol market.
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