Another biodiesel plant for Illinois

| 9/25/2006

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 Press.

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.