Koch Subsidiary Flint Hills Resources Acquires Iowa Fuel Ethanol Plant

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Researched by Industrial Info Resources (Sugar Land, Texas)--Flint Hills Resources LLC (Wichita, Kansas), a subsidiary of Koch Industries, has acquired an existing fuel ethanol plant from Platinum Ethanol (Arthur, Iowa), bringing the company's total domestic ethanol production capacity to 660 million gallons per year.

The plant in Arthur, Iowa, which was originally built by Platinum Ethanol for an estimated $170 million using Fagen/ICM design-build technology, went into operation in 2008. The plant has a nameplate capacity of 110 million gallons per year and also generates 300,000 pounds per year of distillers' grain and about 23 million pounds of corn oil.

This adds renewable capacity in addition to Koch's crude oil refineries in North Pole, Alaska, and Corpus Christi, Texas, that have the capacity of producing 670,000 barrels per day.

Additional fuel ethanol plants under Flint Hills Resources are located in the towns of Fairbank, Iowa Falls, Menlo, and Shell Rock in Iowa, and another location in Fairmont, Nebraska. The plants in Iowa and Nebraska have the capacity of producing 550 million gallons per year of fuel ethanol and make Flint Hills one of the leading fuel ethanol producers in the U.S.

Koch has planned for a major tank inspection project at the North Pole refinery and an annual tank inspection and maintenance project in Corpus Christi. Flint Hills has additional facilities in San Antonio, Mustang Ridge, Longview and Euless in Texas; Green Bay and Milwaukee, Wisconsin; Joliet and Peru, Illinois; Omaha, Nebraska; and a refinery in Pine Bend, Minnesota.

The company has approximately $843 million worth of capital and maintenance spending planned over the next few years.

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