Global Ethanol to build $210m US plant - Breaking News - Business - Breaking News

Brisbane-based ethanol producer Global Ethanol Holdings is set to build a $US160 million ($A210.68 million) ethanol plant in the United States.
The company said it had signed a memorandum of understanding (MOU) with local farmers in Iowa to build the plant that would produce 380 million litres a year of ethanol.
The new plant will be 96.5km from the Midwest Grain Processors Cooperative ethanol plant at Lakota, Iowa, in which the company took a 60 per cent stake in April.
Global Ethanol chief executive Trevor Bourne said the deal showed the strength of the company's relationship with local farmers.
"This is a very powerful relationship between local corn producers and ethanol producers," Mr Bourne said.
"Along with plans to triple our 380-million-litre plant at Lakota, this plant provides Global Ethanol with long-term security for the future growth of production capacity."
The company said production of the ethanol, a clean-burning fuel made from renewable sources, was expected to grow to 30 billion litres a year by 2012 from the current 17 billion litres a year in the US.
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