VeraSun Energy stops construction on Indiana plant; cites low ethanol prices

VeraSun Energy is suspending construction of its 110 Mgy corn ethanol plant in Reynolds, IN due to the fall in ethanol prices. The company said it would restart construction in 2008.

Abenogoa in Spain recently stopped production at its largest ethanol refinery owing to worldwide prices, and numerous plants have had slowdowns or stops in their financing efforts.

The Wall Street Journal published a recent article on the difficult financing environment for new ethanol plants continues, with cancellations and delays becoming a norm. A partner at Baker & McKenzie described some plants as “under death watch”

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