China Beidahuang Industry Group to invest $153.04 million in Inner Mongolia ethanol plant

In China, China Beidahuang Industry Group announced it would invest $153.04 million in an ethanol plant in Inner Mongolia that would use 924,000 metric tons of corn and around 350,000 tons of straw and sweet sorghum each year in an effort to achieve the 10% ethanol-blending mandate recently set for 2020. The facility is set to produce 350,000 tons of ethanol annually. China Beidahuang Industry Group is a grain trader and processor. China is suffering under the weight of significant stocks of old corn that is not suitable for human consumption.