Illinois continues to push forward in its quest to
increase biodiesel production.
A proposed $60 million plant, which would produce 60 million gallons
per year of soy-based biodiesel, could be up and running before the end of 2007
in Cairo, IL, according to The Associated
Bunge Ltd. of Bermuda, with a subsidiary in St. Louis, has partnered to
operate the plant with Renewable Energy Group of Ralston, IA. Additional
funding will come from Natural Gas Partners of Irving, TX, and ED&F Man
Holdings of England.
Bunge specializes in soy products, with a soybean crushing facility in Danville, IL.
It was announced last week that the Danville facility will begin
producing biodiesel to the tune of around 45 million gallons per year.
Joining Bunge in the Danville venture is Biodiesel Investment Group of Memphis, TN.
Illinois Gov. Rod Blagojevich signed enabling legislation in 2003 to
create tax incentives for producers and retailers of biodiesel.