- Press Releases
(ADPnews) - Jun 13, 2011 - US chemicals company Elevance Renewable Sciences last week said it had bought the plant of biodiesel producer Delta Biofuels in Natchez, Mississippi.
Elevance plans to expand the 800,000-sq-ft (74,000 sq m) factory and convert it into a biorefinery producing renewable specialty chemicals through a multi-phase project that will cost some USD 225 million (EUR 157m) and take five years.
The project is seen to create 165 full-time jobs and 300 construction jobs.
The Mississippi Development Authority has provided a USD 25 million loan to the company through the Mississippi Industry Incentive Financing Revolving Fund.
This will be the first production plant of Elevance in North America, the company's CEO K'Lynne Johnson said.
Currently, Elevance is building a biorefinery in Indonesia jointly with agribusiness group Wilmar International Ltd (SIN:F34), with construction expected to finish by the end of 2011 and operation to start at the beginning of 2012. The plant will have an initial annual production capacity of 400 million pounds (181 million kg), with potential for expansion to 800 million pounds.
(USD 1.0 = EUR 0.697)