POET prepares to open 60-million gallon ethanol plant in Indiana

The Star-Press reports that POET Biorefining is preparing to open a 60-million gallon ethanol plant in Portland, Indiana. POET currently has 20 ethanol plants in operation and three more are under construction. The plant will employ 40 people and accept 21 million bushels of corn. POET says that reaction from the local community and farmers, after initial reservations, is positive. The plant cost $150 million to construct. The opening will take place amidst questions reported last week in Biofuels Digest about the waning appetite of investors for new ethanol projects.

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