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Noble Expands Ethanol Sourcing Capacity
NEW YORK - Jul 10/06 - SNS -- Noble Americas Corp., a wholly owned subsidiary of global supply chain manager Noble Group Ltd., has added 114 million gallons in offtake per year to their ethanol business through an arrangement with Northeast Biofuels LP's (NEB) ethanol plant expected to commence commercial production by December 2007.
The plant will be located in Volney, New York at the site of a closed brewery. An equity investment by Permolex International L.P., debt financing arranged by Goldman Sachs, ownership and management by Permolex International L.P., EPC by Lurgi PSI and marketing of the ethanol by Noble Americas Corp., among other strategic partners will make this project a global model.
"The volume from this plant is in addition to other Noble existing fuel grade ethanol projects and increases Noble's annual distribution to over 300 million gallons by 2007," says Fabrizio Zuchichi, Noble's US based Executive Vice President of Clean Oil Products.
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