Completion of Buckeye Technologies Energy Project Pushed to End of the Year

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Researched by Industrial Info Resources (Sugar Land, Texas)--Buckeye Technologies Incorporated (NYSE:BKI) (Memphis, Tennessee) has slowed the construction phase of a $45 million energy project at the company's pulp mill in Perry, Florida. Buckeyes' Foley Energy Project was previously scheduled to be completed this spring, but is now planned for completion in October this year.

The project involves the installation of a Turbodyne 12-megawatt (MW) condensing steam turbine-generator and upgrade of two black liquor recovery boilers. When fully operational, the project is expected to save the equivalent of 200,000 barrels of oil per year, and improve the energy self-sufficiency of the Foley mill from about 85% to about 95%.

The Foley mill has three power boilers and an equal number of recovery boilers that provide steam for mill processes, as well as an on-site power plant that has the capability to produce 40 MW of electricity.

Buckeye is utilizing the services of Frucon Construction Corporation (Woodbridge, Virginia) to complete the project.

Buckeye received a $7.4 million grant from the State of Florida Quick Action Closing Fund, which is a performance-based incentive that provides up-front cash to approved economic development projects.

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