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Cargill Subsidiary Building Ethanol Plants
NEW YORK - Jan 9/07 - SNS -- Cargill's recently created subsidiary, Emerald Renewable Energy LLC, plans to build four 100 million-gallon-per-year ethanol plants in the Midwestern United States.
A contractor has started engineering and permitting efforts and will participate with Cargill in the design and construction of all four plants. To finance the debt capital for the construction of the plants, Emerald has nominated BNP Paribas as lead arranger and Santander Investment and Standard Chartered as senior co-lead arrangers.
If built, each plant will use nearly 40 million bushels of corn annually and produce 100 million gallons of ethanol and over 300,000 tons of dry distillers grains for animal feed each year. The plant sites being considered include greenfield locations as well as co-locations with Cargill grain elevators and other utility infrastructure providers.
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