The investment team of ITERA Ethanol LLC, TD Banknorth, WestLB, Plainfield Asset Management, Camulos Capital and Context Capital Management, has completed financing of a project for the construction of bioethanol plant in Clearfield, PA.
The plant will produce 409.32 million litters of denatured ethanol per year as well as wet distillers grain (WDG) used as cattle feed. The total cost of the project is approximately $265 000 000. The plant is expected to commence operation in late 2009. Production is based on the technological studies conducted by BioEnergy International LLC which received financial support in 2006 from ITERA international group of companies. The next step in this business will be to construct a similar facility in Louisiana.
"We attach great importance to our involvement in developing and promoting prospective technologies in the sphere of environmentally friendly fuels and alternative energy sources", said the Chairman of ITERA Board Igor Makarov. "Our intention is to implement similar projects in Russia and CIS".
ITERA Ethanol LLC is a subsidiary of ITERA USA Inc. (Jacksonville, FL), being part of ITERA international group of companies. ITERA USA Inc. is a diversified company specialized in attracting investment and implementing high-technology projects.
28/02/2008
Press Service,
ITERA Oil and Gas Company
Tel.: (495) 411-8631 |
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