Tyson-Syntroleum renewable diesel JV gets $100m

21 October 2008 23:00  [Source: ICIS news]

HOUSTON (ICIS news)--The Tyson Foods and Syntroleum joint-venture (JV) renewable diesel plant in Louisiana will receive $100m (€75m) in state-sold bonds, the companies said on Tuesday.

The state was able to sell the tax-exempt bonds, which carry a 1.3% interest rate, despite what has been a volatile securities market. Beef and chicken processor Tyson and renewable fuel technology provider Syntroleum will evenly split the remainder of the project’s $138m cost, the companies said.

Construction of the Dynamic Fuels plant in Geismar is expected to start in the near future, the companies said in a press release, with production scheduled to start in 2010. The plant will produce 75m gal/year of jet fuel and diesel from animal fats.

($1 = €0.75)

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By: Ben Lefebvre
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