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Itching to build ethanol plant
Seaway
Grain Processors are trying to secure big bucks from the feds to get an
ethanol plant built at Cornwall
CORNWALL — Seaway Grain Processors
have been meeting with officials from First Treasury bank to work through
documents and secure the big bucks from the feds to get an ethanol plant
built at Cornwall. "Everything seems to be going
along reasonably well," said Bud Atkins. "There are no glitches
yet." Atkins expects construction on the
plant to start this summer. "I’m looking at July," he said.
"The contractors are anxious to get the concrete poured by
fall." Seven companies that will share in
the $78 million in federal start-up funds for corn-fed ethanol plants are
in the midst of signing agreements with the federal department of Natural
Resources. "That’s the key," Atkins said. "When that
document is signed everything else will go rather rapidly." The Cornwall plant has more than
2,800 investors, of whom most are members of the Seaway Valley Energy
Co-operative. Some invested as much as $100,000. The plant is expected to produce 66 million litres
of ethanol each year. The federal government announced in February that
Seaway would get $10.5 million, which has to be repaid if Seaway is
profitable.