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Pacific Ethanol Says to Build Oregon Fuel Plant |
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| US: May 12, 2006 | ||
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SAN FRANCISCO - Pacific Ethanol Inc. , part owned by Bill Gates, said it has received permits to build an ethanol plant in Oregon to produce 35 million gallons a year of the corn-based fuel.
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The plant, to be built on the Columbia River near the city of Boardman, would be the second for Pacific Ethanol, the company said Wednesday. Gates, the founder of Microsoft Corp. and the world's richest man, holds a 25.5 percent interest in the company. Fresno, California-based Pacific Ethanol is currently building its first facility in Madera, California, expected to begin ethanol production in the fourth quarter of this year. Construction of the Oregon plant is expected to begin within the next 30 days and take about 12 months. It will supply the gasoline market in the Pacific Northwest. Pacific Ethanol CEO Neil Koehler said the company plans to build five ethanol plants by the end of 2008 to serve Western states . Separately, a second Oregon ethanol plant is to be built by Cascade Grain Products LLC with help from a US$20 million loan from the Oregon Department of Energy and a US$77 million equity investment by international investment firm Berggruen Holdings Inc., according to The Oregonian newspaper. The plant is to be completed in 2008 and produce 113 million gallons of ethanol a year, the paper said Thursday.
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REUTERS NEWS SERVICE
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