Seaway ethanol gets $10.5 million

Construction to start in 120 days

WINCHESTER -- One farmer rubbed his eyes like a television actor who had just seen a miracle. Others beamed broad smiles like cut cantaloup on a plate.

In a crowded beer hall overlooking the Winchester Hawks ice surface Feb. 13, Minister of Natural Resources, John Efford, announced that Seaway Valley Energy Co-operative will receive a grant of $10.5 million to get the corn-fed ethanol plant built at Cornwall.

About 200 farmers and investors cheered the news they’ve wanted for almost 10 years. When Seaway President Bud Atkins addressed the crowd his voice broke with emotion and he looked down for a moment. "This announcement is of enormous importance to Seaway," he said, adding cautiously, "this doesn’t mean it’s a done deal."

Seaway has to secure an almost $20 million loan from First Treasury Bank in Toronto and provide Ottawa with an accepted business plan to get the $10.5 million.

Immediately after the press conference, Atkins told Farmers Forum: "That’s a nice chunk of money."

As for the loan, "we’re not worried about it," he said, inferring that it has been approved and it’s now a matter of getting the paper work out of the way.

The hall was a riot of back slaps, hugs and grins. "I’m just ecstatic that we’re getting our recognition for this new industry," said Seaway board member Richard Lavigne. "We were just seven year ahead of our time, like Panasonic."

"Am I smiling, Richard?" an investor interrupted with a grin. She put an arm around his shoulder and added: "Thanks for all your hard work."

Seaway board member Alain Leduc said that now construction will begin on the ethanol plant in 120 days.

"We’re really pleased," he said. "It’s ($10.5 million) what we applied for."

Then he laughed and said, "I finally have something good to say about the government."

"Is it okay to write that?"

"Yes," he replied, laughing even more.

"She’s a great day," said North Dundas crop farmer Geoff Guy, who couldn’t stop smiling. "A great day for cash crop farmers in eastern Ontario. It’s another market. I filled up my truck at the gas station with ethanol today."