Pacific Ethanol Inc. (Nasdaq: PEIX) has applied for a site certificate to open a Ethanol production facility in Oregon. The proposed facility is an ethanol production plant that would be located near Boardman, Oregon, on a 25-acre site within the Port of Morrow Industrial Park. The facility would receive grain by rail for conversion to food products and fuel grade ethanol. The facility would be designed to produce 42 million gallons of fuel grade ethanol per year.
The ethanol would be transported to market by truck. Structures would include a grain processing building, fermentation building and tanks, distillation, drying and evaporation building, ethanol storage tanks, tanks for storage of processing materials and natural gas-fired steam production facilities. Pacific Ethanol states that the plant will employ about 25 people.
Huge news, as it seems like Pacific Ethanol is moving ahead with its business plan to build five ethanol plants on the west coast. Great news for current shareholders as this certainly shows that Pacific Ethanol is executing its business plan.
I am still upset that Pacific Ethanol delayed their annual report filing and still hasn’t finalized their financing deal with Cascade Investments and couple of other banks. However, longterm there is no denying the stock's potential.
Sources on the Oregon project (all .pdf):
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