Creditors poised to seize unfinished Lousiana sugar ethanol project

March 12, 2012 |

In Louisiana, a state-backed cane syrup mill in Lacassine may be seized by creditors after being three months behind on a $2.9m mortgage payment. The state guaranteed the bank loans and is now asking Louisiana Green Fuels, a potential buyer of the mill, to pay the $6.3 million over the next 36 months. The mill and ethanol plant are both unfinished after seven years of development.

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