Biodiesel Investment Group of Memphis, TN, has partnered with a
Bermuda-based soybean processor to create a new biodiesel plant in Illinois.
The proposed plant in Danville, IL, will eventually produce 45 million
gallons per year of soy-based biodiesel, according to The Associated Press.
Biodiesel Investment Group announced its partnership on Thursday with
Bunge Ltd. of Bermuda to create Biofuels Company of America, The AP reported.
Bunge already operates a soy and fertilizer processing plant in Danville. The proposed biodiesel plant is being constructed next to that facility and will
likely be operational in early 2008, according to company officials.
Illinois Gov. Rod Blagojevich signed legislation in 2003 to create tax
incentives for producers and retailers of biodiesel.