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Home / Bioethanol / News Russia's ITERA helps finance construction of bioethanol plant in U.S. Russia's ITERA helps finance construction of bioethanol plant in U.S.
MOSCOW. Feb 28 (Interfax) — ITERA Ethanol LLC, a subsidiary of independent Russian gas producer ITERA, was a member of an investment group that recently finalized financing for the construction on a bioethanol plant in the Pennsylvania city of Clearfield, the company said in a statement. The other members of the investment group were TD Banknorth, WestLB, Plainfield Asset Management, Camulos Capital and Context Capital Management. The plant will produce 409.32 million liters of denatured ethanol per year in addition to livestock feed. The cost of the project is $265 million. Construction is to be completed by the end of 2009. BioEnergy International LLC, which received financial support from ITERA in 2006, will use its scientific developments to provide assistance in bioethanol production. The next step in the project will be the construction of a similar plant in Louisiana, the company said. ITERA plans to «carry out similar projects in Russia and the CIS,» the statement says. ITERA Ethanol LLC is a subsidiary of ITERA USA Inc., which is based in Jacksonville and is part of the ITERA International Group. ITERA USA Inc. specializes in investing and realizing projects related to the development of natural resources, the production of alternative types of energy, supplies of equipment for the oil and gas industry, timber processing and other activities.
Itera completes investment in U.S. bio fuel production. MOSCOW, February 28 (RIA Novosti) — Russia's Itera Ethanol LLC, a subsidiary of the Itera Group, has made its final investment in a $265 million project to produce bioethanol in Clearfield, Pennsylvania, as part of an investment team. BioEnergy International LLC, a science and technology company committed to developing technologies to produce biological fuels and chemicals from renewable resources, plans to build a plant by late 2009 to produce 409.32 million liters of denatured ethanol a year, as well as pet foods. A similar plant is to be later built in Louisiana. «We consider it a priority to join the development and introduction of promising technology in the production of environmentally friendly fuels and alternative energy sources. We plan to develop similar projects in Russia and in the CIS,» said Igor Makarov, Itera Group president, on Thursday. Itera made its first investment in BioEnergy international LLC in May 2006 to provide funds for initial infrastructure development, the company says on its website. The investment team also includes TD Banknorth, WestLB, Plainfield Asset Management, Camulos Capital and Context Capital Management. ITERA Ethanol LLC is a subsidiary of ITERA USA Inc. (based in Jacksonville, Florida), making part of Itera Group. ITERA USA Inc. specializes in attracting investment and develops high-technology projects.
Date: 02.03.2008 Comments:Leave your comment
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