« Sugar Into Gasoline Is Cheaper And Easier | Home | Ethanol Helping To Reduce Our Reliance On Foreign Oil »
Ethanol Venture Nears Reality
By Mr Ethanol | September 22, 2008
Albany Times Union:
The developer of a massive ethanol production plant proposed for 18 acres of mostly vacant land at the Port of Albany is expected to sign a lease and make the first month’s payment over the weekend, Albany port officials said Friday.
Albany Renewable Energy LLC was selected to develop the land, for which it will pay $360,000 a year, or $7.2 million over the 20-year term of the lease. The ethanol plant project is expected to cost as much as $350 million.
Some of the space is currently occupied by other tenants, and the lease payment will be reduced by the amount they pay, Albany Port District Commission Chairman Robert Cross said. They likely won’t have to move until construction on an ethanol plant actually gets under way.
Ed Stahl, owner of BioPro Resources LLC in Huntersville, N.C., and a partner in the ethanol project, said late Friday he plans to have the lease signed by Monday.
Albany Renewable had requested a delay in signing the lease because of a lawsuit filed by a competing bidder, who alleges Stahl and several associates stole its idea for the plant.
The port commission gave Albany Renewable a deadline of Monday to sign.
“He’s comfortable the lawsuit will be dismissed,” Cross said of Stahl. “That’s not our concern. Our concern is that we have the lease signed.”
Rising corn prices since the plant was announced have also posed a challenge. Now, Cross said, Stahl is looking at some different approaches.
Topics: BizOp, Ethanol, News |
Related Posts
- Sumitomo To Form Brazilian Ethanol Joint Venture, Nikkei Says
- BP Buys Into Brazilian Ethanol Venture
- Ethanol Proves To Be The Big Letdown Of 2007
- Was Gore Hired As Venture Capitalist Or Venture Lobbyist?
- Biorefining Signs Licensing Deal
- RPT-Iowa Venture Capitalist Sours On Ethanol
- We Can Still Save From The World Food Crisis
- Bright Future For JB Ethanol, Says Levy
- Silicon Valley Emerging As The Detroit Of Electric Cars
- Corn Choice Could Be Key To Consumers
New Way Of Making Easy Money Online