Pacific Ethanol Grows Its West Coast Facilities
November 1, 2005 |
November 1, 2005 |
"We are moving ahead with concrete plans to build out an initial five
ethanol plants on the West Coast with a projected combined annual production
capacity of 200 million gallons."
-- Neil Koehler, Pacific Ethanol's CEO
Fresno, California [RenewableEnergyAccess.com] Pacific Ethanol Inc. secured three new sites on the West Coast in addition to the company's existing Madera and Visalia, California, sites.
"We are moving ahead with concrete plans to build out an initial five ethanol
plants on the West Coast with a projected combined annual production capacity of
200 million gallons," said Neil Koehler, Pacific Ethanol's CEO.
"In all three of the new locations we have begun permitting and engineering
work," Koehler added. "In addition, we are aggressively working to secure both
equity and debt financing that will enable us to move quickly on construction
once all necessary permits have been obtained."
Pacific Ethanol has begun construction of its first ethanol plant in Madera
County, California, which is expected to have a minimum capacity of 35 million
gallons per year. Phase I of construction is nearing completion, which accounts
for nearly a third of the total construction budget.
In other business, Pacific Ethanol announced the termination of the proposed
acquisition of Phoenix Bio-Industries, which expired mid-October. The marketing
agreement remains in place between PBI and Kinergy Marketing, a wholly owned
subsidiary of Pacific Ethanol, which grants Kinergy the right to exclusively
market 100 percent of the ethanol produced by PBI at its Goshen, California,
facility.
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