Tate & Lyle Waiting on Corn Harvest Before Starting Construction on New Wet Corn Mill Ethanol and Starches Plant in Iowa

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Researched by Industrial Info Resources (Sugar Land, Texas). Tate & Lyle (LSE:875413), Plc (London, England) and Tate & Lyle North America (Decatur, Illinois) are preparing to start construction on a new $260 million wet corn milling plant that will be located in Fort Dodge, Iowa.

Before construction can start, corn from the field where the plant will be located has to be harvested. The company held an official silver shovel ceremony late last month where company officials, the lieutenant governor for the state of Iowa, and other local politicians and developers gathered to mark the occasion.

Plans call for the creation of a 100 million-gallon per year fuel ethanol plant and will also produce cationic starches for the paper industry from 150,000 bushels per day of corn that will be processed at the wet mill.

Phase one of the two phase project is expected to be completed by March of 2009, and phase two, which will bring the plant’s capacity for processing corn to 300,000 bushels per day, will go into operation sometime in early 2011.

The Fort Dodge project will also mark the seventh ethanol plant currently under construction in Iowa. The other six are Absolute Energy (Saint Ansgar); Freedom Fuels (Mason City); Green Plains Renewable Energy (Shenandoah); Pinnacle Ethanol (Corning); US Bio Albert City (Albert City) and VeraSun Energy also located in Fort Dodge, Iowa.

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