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Noble Enters U.S. Ethanol Biz
NEW YORK - Mar 23/06 - SNS -- Noble Group has been given the marketing rights for ethanol which will be produced from a 44 million gallon plant under construction in Madrid, Nebraska.
Being built by MABE, in which Noble bought a $6.5 million stake, the plant is expected to reach mechanical completion by December 2006. Noble is the assigned marketer of all ethanol output produced by the Madrid plant as well as any new projects including the development of a new ethanol plant to be based in Cambridge, Nebraska.
Noble expects to start delivering ethanol to U.S. buyers in January 2007 Noble. It expects annual volumes to exceed 200 million gallons. The Group has over one billion gallons in off-take agreements signed for plants under development and is actively seeking to finalize additional contracts.
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