New ethanol plant to be built in Iowa
The Associated Press reports that Archer Daniels Midland Co. plans to build a new dry-mill ethanol plant that will allow the company to produce an additional 275 million gallons of the corn-based fuel each year. The new plant in Cedar Rapids, Iowa, is expected to be finished in the second half of 2008, subject to approval by federal regulators, the company said. It is the second new dry-milling ethanol plant announced by Decatur-based ADM this year. In February, the company said it plans to build a 275 million-gallon plant in Columbus, Neb., that is expected to be operational in the first half of 2008. ADM has said it intends to boost its ethanol capacity from 4 billion gallons to 6 billion gallons per year.